Bio:
Mary Beth Guard is one of the four co-founders of BankersOnline and is now Editor Emeritus, after more than 16 years of serving as Executive Editor. She was instrumental in the creation and expansion of BankersOnline, as well as the launch more than a decade ago of BOL Conferences, Inc. and its continued operation and growth. Mary Beth is also the director of BankCompliance.com, the subscription-based compliance service now being offered online. Also, Mary Beth serves as CEO of Glia Group, Inc., which produces BOL Learning Connect. For nearly four decades, Mary Beth has utilized her background as an attorney to focus on banking industry issues, first as general counsel for the Oklahoma State Banking Department, then as general counsel for the Oklahoma Bankers Association, prior to her work with BankersOnline.
Mary Beth has presented training programs for virtually every major national financial industry association, as well as more than a dozen state bankers associations and a host of other organizations. She is a frequent presenter of webinars and seminars. In addition, Mary Beth has written more than a thousand banking-related articles and is BOL Guru #1.
Areas of Expertise:
Compliance Seminars
Lending & Operations Compliance Matrices
Questions Answered
01/15/2001
According to the NFIA, a previous flood determination may not be reused when making a new loan. However, if it is not new (i.e., involves increasing, extending, renewing, etc.) the original flood determination can be used if it is >7 years old, etc. Also, for home equity/second mortgage loans where the lender has a first mortgage and can provide evidence that adequate flood insurance is in place, the lender can rely on the original flood determination. The NFIA does not address whether a lender can rely on a previous determination, specifically, for home equity loans where the lender has the first mortgage and the security property is not in a flood zone and no coverage is in place. My question: Can a lender rely on a previous flood determination for home equity loans, where the lender has the first position, and when the security property is not in a flood zone?
01/15/2001
Currently our holding company bylaws allow us to give each stockholder a list of all the stockholders. Included in this list is the stockholder's social security number, number of shares owned, and the last dividend payment that they received. My question is, can we still give this information to anybody who asks for it? GLB is still confusing to me in the area of holding companies.
01/08/2001
What is the requirement for the Mortgage Transfer Servicing Disclosure? Do we still have to use the long form with the three years history? Does it have to be given at application? Does it have to be signed by the applicant?
01/02/2001
Where would I find the statute stating the legal age to be able in enter into a binding contract (loan)? Also, if you made a loan to a 17 year old and his father as a co-signer, would the fact the son isunderage prevent you from collecting from the father on the loan if it should go into default?
01/01/2001
We've always had the substitute W9 on our deposit agreements. Should we also be certifying TINs with <i>loans</i>, too?
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