Bio:
Mr. Andy Zavoina, CRCM, is an Executive Vice President and Chief Relationship Officer with the Glia Group, Inc., best known for its interest in BankersOnline.com. He joined Glia and BOL in 2003.
Mr. Zavoina has been in finance and banking for 42 years. Over 20 years were with a two-bank holding company which had $534 million in assets, 89 branches spanning Texas and nearly 500 ATMs. He managed loan workouts, has been a consumer, commercial and real estate lender, managing those departments, as well as being his banks first Webmaster. He was responsible for compliance -management, -auditing, and -training for both banks.
Andy is a frequent webinar presenter for BOL Learning Connect and a key contributor to conferences put on by BOL Conferences, Inc. In addition, Andy teaches live presentations at state association schools and regional compliance organizations across the U.S. and has served on the faculty of national banking schools. He has written articles and lectured on many facets of compliance, the use of the internet and technology as a tool, as well as compliance in cyberspace.
As a BankersOnline Guru, Andy assists banks in every day, and not so every day, compliance questions on BankersOnline, BankCompliance.com and other organizations.
Mr. Zavoina is a recipient of the American Bankers Association’s Distinguished Service Award for his involvement and accomplishments in the field of regulatory compliance management. He is a past Chairman of the ABA’s Compliance Executive Committee, the Editorial Advisory Board for the ABA Compliance Magazine and served as a member of the ABA’s Compliance School Board. He also served on the Texas Bankers Association's Compliance Committee.
He is a graduate of the ABA National Commercial Lending School, National Compliance and National Graduate Compliance School and is a Certified Regulatory Compliance Manager with the Institute of Certified Bankers.
Questions Answered
08/18/2003
We have a customer who is purchasing a condo for investment purpose and is requesting line of credit secured by the condo which will be advanced for the purchase money. Can we do a purchase money open end line of credit?
08/18/2003
We do not always get a new written application with each request for credit, esp. with our investors. If the required information (income, race and sex) was collected on a previous transaction, can we rely on that information? If so, does it ever expire? I mean I know ones income can fluctuate, but ones race and sex seldom do.
08/18/2003
Can we withdraw 2 payments from a customer's CD if they are delinquent on their loan?
08/18/2003
When taking an application over the phone, how should the gov't monitoring information be handled? Usually when taking a application over the phone, we also send the application out for signatures. Should this information then be filled out by the customer when signing? We have seen some varying information regarding this, so please be specific on how this should be handled.
08/18/2003
Some branches of a bank are open on Sundays. I have two questions concerning business days and Reg Z: 1. Would the bank be considered "substantially open for business" if they take loan applications, disburse loans, take deposits, and make withdrawals at only certain branches on Sunday? (not all the branches are open on Sunday) The back office/operations staff does not work that day. If so, when calculating the 3 business days for early TILs, would they count Sunday as a business day for loans closed at all branches or just the ones opened on Sundays? 2. The definition of business day in Reg Z states that Sunday is never a business day for right of rescission. If this same bank closes rescindable loans on Sundays, when do we begin counting the three days?
08/18/2003
We charge a rate lock fee, which if the borrower closes within the initial rate lock period, is refunded at closing. We include the fee as a prepaid finance charge on the initial TIL but should we exclude it from the final since it's refunded at closing. Is this correct?
08/18/2003
I need clarification on a age old rescission question. Wife is borrower on loan, she lives in home, ownership is in both the wife's and husband's names. Husband does not live in the residence (he has his own principal residence). Husband is not on the note, however he did sign the security agreement. Would the husband have the right to rescind? I am a little confused because I have seen a Reg Z article that states "Each person with an ownership interest has the right to rescind even if all the owners don't live in the house."
08/18/2003
If an insider pledges a CD that they coown with a family member as part of the collateral for the family member to purchase a home, is that loan subject to Reg O?
08/18/2003
We have received a verbal Reg E claim on an individual account where that individual has passed away. Is the next of kin or anyone (family member) authorized to file a Reg E Claim in this case?
08/11/2003
One of our customers submitted a debit card dispute for two $300.00 transactions done at a WalMart in another state. The claim was denied by our processor because they show a signature on the receipt. In reviewing the signature card, the signed receipt clearly does not match our customers. Shouldn't the merchant be held liable here? If so, how do we go about receiving credit for our customer?
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