05/21/2023
My bank is in Texas. When an entity like an LLC is registered in a state other than where the bank is and wants to open deposit accounts and loans, should it be registered in our state or otherwise be "officially" registered here in some way? Does it make a difference if the owner lives in the bank's state?
03/12/2023
Participation and LIFO Loans
11/20/2022
On an existing commercial loan, can you add new money as long as the amount doesnt exceed the original loan amount? For example, an original loan was $74,000 with a current balance of $64,000, may we add-on $2,000 in new money. The maturity date and interest rate will remain the same
10/30/2022
On an existing commercial loan, can you add new money as long as the amount doesnt exceed the original loan amount? For example, an original loan was $74,000 with a current balance of $64,000, may we add-on $2,000 in new money. The maturity date and interest rate will remain the same
09/11/2022
Why do banks collect customer financial documents on an ongoing basis?
07/10/2022
I'm looking for some clarification on the Notice of Action Taken provided to businesses with revenues in excess of $1MM.
Can a Bank choose to provide these businesses with an Adverse Action Notice which lists the reasons for denial, or is the Bank required to provide the Notice of Action Taken which does not list the reasons for denial? I wasn't sure if there were any reasons that would prevent us from providing an Adverse Action Notice as opposed to a Notice of Action Taken.
Also, the provision does give the Bank the flexibility to notify the applicant, orally or in writing. If the applicant is notified orally, what would be the best course of action that the Bank or Loan Officer would need to take for compliance monitoring purposes?
"(ii) With regard to a business that had gross revenues in excess of $1 million in its preceding fiscal year or an extension of trade credit, credit incident to a factoring agreement, or other similar types of business credit, a creditor shall:
(A) Notify the applicant, within a reasonable time, orally or in writing, of the action taken; an
(B) Provide a written statement of the reasons for adverse action and theECOA notice specified in paragraph (b)(1) of this section if the applicant makes a written request for the reasons within 60 days of the creditor's notification."
06/12/2022
What does “loan file” mean in banking?
06/05/2022
How can document management software make life easier for lenders?
05/29/2022
We are a community bank and keep all our loans in house. Must a tax return submitted by the borrower be signed to comply with lending regulations on consumer and commercial loans?
05/22/2022
What documentation or approval is needed to be able to advance interest payments on a construction loan? For monthly payments is it allowed to draw that month's payment from the available credit balance?