Most Popular Lending Content
HMDA reporting of business loans
06/23/2024
I thought business purpose loans were exempt from HMDA reporting.
Types of trust documents
06/23/2024
What types of trust-related documents are commonly managed by financial institutions?
HMDA’s partial exemption
06/23/2024
2. Can all institutions make use of the HMDA partial exemption?
Right to rescind on future advances loan
06/23/2024
I have a question regarding the right of rescission. On a future advance loan, does the right to rescind apply? The original loan was for $75,000 and secured by their the borrower's principal dwelling. They've paid the note down to $35,000. The new note is a future advance on their property and the note will be for $35,000. I think the right to rescind should apply since it is a new advance, even though the total loan amount is less than the original loan amount. I'm new to compliance and we do not do many future advance loans. We are in Missouri, if that matters.
$8 credit card late fee – will it impact our credit card customers?
06/16/2024
I’ve been hearing about the new $8 cap on credit card late fees. My bank offers cards issued by an agent bank, but the card shows our bank logo and we hand out brochures for the product. Will our customers be impacted?