Most Popular Lending Content
Administrative loan renewals and interest rate change
11/10/2024
I continue to get push back from our lenders to change rates when we have Administrative Renewals. Reason for an Admin Renewal may be that the customer does not have a current Tax Return or Personal Financial Statement. Our current practice, when doing an Admin Renewal, is to only extend the maturity date by 90 day and make NO other changes. Is anyone else making rate changes at the time of Admin Renewals or doing them for longer than 90? Is this a regulatory issue with commercial and/or consumer loans and if so, what regulation would we be violating?
Maintaining an “arms length” distance from settlement service providers
11/03/2024
Is it okay for us to share subscription services that the bank has access to with our mortgage service providers?
Loans Require Deposit Account
11/03/2024
To get an auto loan our credit union requires the person to be a member. This requires a deposit/share draft account. Is this an allowable requirement to qualify for a loan?
Rate sheet
11/03/2024
Are we required to use a rate sheet for commercial loans?
Bulk categorizing exceptions for all documents of a certain type
11/03/2024
What is the potential benefit of bulk categorizing exceptions for a specific type of document?