Most Popular Lending Content
Getting permission to pull a credit report
03/02/2025
We are reviewing our procedures when it comes to pulling credit for loans/credit cards. One question that has come up is - what is required when pulling credit? Our branch staff can take in-person and telephone applications. For in-person applications should we have the customer sign a document stating that they are authorizing us to pull credit? What should that process look like for applications taken over the phone? We are concerned that if we add a check box to the application the branch employee may click that box without discussing with the client (for both in person and over the phone applications).
Obtaining a Tax Transcript to Verify Income
03/02/2025
What is the procedure for getting a 4506-T (Tax Transcript) on behalf of a client?
Electronic routing for commercial loan applications
03/02/2025
Why consider implementing a system to enable electronic routing of commercial loan applications?
Policy exception tracking systems
02/23/2025
How do financial institutions track policy exceptions?
Reporting Income for CRA
02/23/2025
When reviewing purchased loans for CRA that are business purpose loans, can we use the revenue listed on the Loan Summary page to determine revenue if there is nothing else in the file that show the business income?