Most Popular Lending Content
Reporting on exceptions by officer
05/19/2024
Why summarize exception data by loan officer?
What is “Abusive,” technically?
05/19/2024
In terms of UDAAP, what makes something “Abusive”?
Does the FFIEC APR Tool work on HELOCs?
05/19/2024
Does the FFIEC APR Calculator work for HELOCs?
Does a Bankruptcy Workout Require an MLO
05/19/2024
We have an employee that serves as the bank's Bankruptcy Officer. This employee does not lend directly to the public. They do not have an approved lending limit. This employee negotiates with the trustee/court/lawyer/borrower on an active bankruptcy to restructure loan terms according to the bankruptcy agreement. Would this employee need to be a registered MLO (SAFE Act) if they are negotiating terms for an active bankruptcy on a consumer mortgage loan?
I think our CD Special is disclosing an inaccurate APY. It is less than the interest rate!
05/12/2024
My bank is doing CD specials a lot lately, and with rates being higher, there are now actual differences between the interest rate and the APY. I want to get it right! I’m concerned that something is wrong with our 13 month CD special (interest paid at maturity), because the APY is LESS than the interest rate. How can this be?!