Most Popular Compliance Content
Privately Owned ATM in Business-MSB?
03/24/2019
If a business customer has a privately owned ATM in their business, are they considered an MSB?
Signature Card Compliance (FDIC)
03/24/2019
We need more information about compliance when it comes to signature cards. We use add and remove forms for account owners, signers, and beneficiaries when the owner wants to make changes after opening their account rather than printing a whole new signature card that all account owners would have to re-sign. Are these compliant with FDIC requirements when it comes to distinguishing what type of insurance coverage they would have?
Bridge LE: Expedite w/ Investment Acct./TRID Loan
03/17/2019
We issued a Loan Estimate for a bridge loan to purchase a home to be secured with the purchased property and the applicant's current residence. Due to timing circumstances with the applicant and the sellers, the applicant now wants to expedite the purchase by using an investment account and use the TRID loan to get reimbursed. Can I use the same application and re-disclose the LE as a refinance or home equity purpose?
Real Estate Loan-Property Owner Is Trust Scenario
03/17/2019
Our borrower is an individual. The purpose of the loan is refinancing a first lien with another lender. The property owner is Trust. Is this acceptable and do you have any recommendations for dealing with this scenario?
Flood for Condo-No Replacement Cost on Building
03/17/2019
The maximum amount of flood insurance that can be purchased on a condo is 80% of the replacement cost of the building or the total number of units in the condo building times $250,000, whichever is less. What if there is no documented Replacement cost on the building, should we use the appraisal value as the basis of our calculation?