Most Popular Compliance Content
Reasons for loan policy exceptions
10/29/2023
Why do loan policy exceptions sometimes occur?
Identifying the bank that accepted a mobile deposited check
10/29/2023
We just received a $750 check that was returned to us unpaid as a duplicate presentment. There is no information on the check to indicate where it had been accepted for deposit before we took it. How can I get that information, which I will need if we have to make an indemnity claim against that other bank.
What's an Acceptable Deductible for Flood?
10/29/2023
We have a loan closing for a commercial property. The loan amount is $183,000 and the building is valued at $240,000. The borrower's flood policy is for $183,000 with a $50,000 deductible. He does not have sufficient cash on hand to handle a deductible this large. I told the lender the deductible is too high for the coverage amount, but the borrower is insisting on keeping his deductible at $50k. The lender says they are fine with the deductible being this high. Does that make this acceptable?
TRID disclosure error, correctible?
10/22/2023
The list of service providers we gave out has a mistake on it, The lender inadvertently put two providers in one box, One of these providers is an affiliate, the other provider is a third party, The contact information for the third party is right, but how the providers name is displayed as lenders affiliate-third party, would this be an issue? My concern was it would hinder borrowers ability to shop, also an affiliated business disclosure would be required. What are your thoughts?
Audits and document management
10/22/2023
How are audits impacted by a financial institution’s document management processes?