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Latest Compliance - Commercial Lending Topics

Corporate Banking Resolutions-Banking Relationship

05/05/2019

Is a Corporate Banking Resolutions on a bank's letterhead which is completed and certified by the Board Secretary with the corporate seal affixed, sufficient to memorialize a resolution taken by a company's board of directors regarding actions related to a banking relationship such as appointing a new board secretary or adding and deleting signers?

Notice of Right to Receive a Copy of an Appraisal

03/03/2019

I have questions that bother me when I dealing with a commercial real estate transaction where a residential property is taken as collateral. When does the Notice of Right to Receive a copy of an Appraisal apply? I have seen many different concepts in the internet regarding to dwelling: - A 1-4 residential property which is the borrower or guarantor's principal residence; - Any 1-4 residential property which is the borrower's principal residence, and it is going to be refinanced; or - Any 1-4 residential property taken as collateral in the commercial real estate transaction. I would like somebody clarify which is in compliance. I am in Florida if that matters.

Reg B Appraisal Notices & Commercial Loans: Lien

02/19/2017

In regards to Reg B appraisal notices and commercial loans: does the loan need to be secured by a first lien on a dwelling for the notice requirements to apply or is it any dwelling secured loan - regardless of lien position? For example, an LLC is securing a commercial loan with a 2nd lien on a dwelling, do they get the appraisal notice or not?

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Audit checklist for bank as mortgage loan broker

11/17/2024

I am looking for a checklist that auditors would use when doing an audit on a brokered mortgage, specifically when the bank is acting as the broker. Can anyone give me a suggestion as towhere to find one? I have been searching the internet but have not really found anything that would help me with this.

Data breach and card reissuing

11/17/2024

We have been notified by Mastercard of a data breach and need to inform our customers who were impacted by this incident. In previous financial institutions where I have worked, we typically send a letter to notify customers about the card compromise. This letter includes the date we will be closing their card and informs them that a new card will be issued. My question is regarding the regulations surrounding this process: Can customers choose to keep their card active? If so, where does the liability lie if they experience fraud in the future? I am looking for a regulation or a Mastercard rule to implement a formal policy, as there isn't one currently in place at my current financial institution.

Deceased Joint Accountholder Process

11/10/2024

Is this correct? Surviving joint account owner(s) can continue to use a deposit account as normal. The decedent will need to be removed from any deposit account they are an owner of. We thought the account had to be closed and another one opened but I'm hearing conflicting opinions.

Where are Check Return Limits Specified

11/03/2024

Where in the regulations does it spell out the time limits and liabilities for banks regarding counterfeit checks, altered checks, forged endorsements, etc?

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