Most Popular Lending Content
Record retention for open, paid, and charged-off
03/16/2025
How long do you have to retain loan records? Until the loan is paid off? What if the original loan just continues to add on more loans? The original loan is closed but it continues to have more loans attached to it? Also, how long do you have to retain records of charged-off loans? Are these permanent records, seven-year retention periods?
Administrative fee on consumer loans
03/16/2025
We do consumer loans consisting of auto, unsecured, and CD secured loans and we charge an administration fee of $25.00. This fee is listed in our [vendor name redacted] system as an Administrative Fee that affects the APR. I was wondering if this is okay, because it is a consumer loan.
Early capture in banking
03/16/2025
What is early capture in banking?
Third-party fees and tolerance cure
03/09/2025
If a third-party fee, such as a wire fee or E-Doc fee from the Closing Agent, was not disclosed on the LE, does the lender have to provide a tolerance cure for the full amount of such fee(s) or would they fall into the 10% tolerance cure calculation bucket?
Does an entity need a separate resolution for each
03/09/2025
Do you have to have a new resolution with every new loan a borrower does. Or will oneresolution for the entity work?