Is the NMLS ID # supposed to go on HELOC documents too?
04/14/2024
Does the NMLS ID# number need to be included on HELOC agreements and Deeds of Trust / Mortgages?
04/14/2024
Does the NMLS ID# number need to be included on HELOC agreements and Deeds of Trust / Mortgages?
04/07/2024
We have a small credit card program and portfolio. Do we need to lower our credit card late fee to $8?
04/07/2024
I’m so confused! I’ve heard conflicting advice: that Mortgage Loan Originators do and do NOT have annual training requirements. I thought Reg Z required it, but I have MLOs pushing back. Help!
03/31/2024
We have a new employee who was registered as an MLO at another financial institution. Upon updating their NMLS registration for our employment, we learned their fingerprints are over 3 years old. Can they still originate loans with us?
03/31/2024
If a customer deposits a check into their account with us, and that check is returned to us as unpaid, may we charge them a fee when we do the chargeback?
03/24/2024
I work in HR, and know that our Executive VP earns a substantial annual bonus. He does not really do any real estate lending, but often says he makes more loan deals on the golf course than anywhere else. I assume this includes home loans. Up to this point, he has kept his NMLS ID # and registration current “to CYA”. I’m concerned his bonus may be non-compliant with Loan Originator Compensation requirements. Should I be worried?
03/24/2024
Our Board Chairman’s daughter has opened her own business and wants a loan from us. She is on it all by herself and he will not be a guarantor. Is her loan subject to Reg O?
03/17/2024
Who should manage the NMLS registration for our Mortgage Loan Originators (MLOs)? Is that an HR function, or should compliance do it?
03/17/2024
We have a Director who (together with his wife) shares ownership of a law firm. I just learned that we booked a $525,000 loan for that law firm. The loan has a rate and terms comparable to other loans. Is this a problem for Reg O?
03/10/2024
I work in operations, and our Executive Vice President just showed up on the daily NSF report! He has overdrawn his personal checking account by $1,200. What do we do?! Can we pay it or must we return it, and must we charge him our normal fee?