Most Popular Compliance Content
Tracking loan policy exceptions
11/05/2023
How do financial institutions track loan policy exceptions?
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?
Is this a credit card billing error?
10/29/2023
Regarding Credit Card Billing Errors - If the bank makes a payment posting error to a credit card and within a few days through reconciliation discovers the error and makes a correction to the account, is this considered a Reg Z - Billing Error Resolution and a notice must to go out to the consumer explaining the error?
Does RoR apply to a bridge loan?
10/29/2023
Will the right of rescission apply on a 12-month bridge loan to purchase the borrowers secondary dwelling, using their primary dwelling as collateral also?