06/18/2017
Can Interest applied to principal on a loan that was formerly on non-accrual ever be accreted back into income?
05/25/2015
We have several consumer LOCs where the note states average daily balance is calculated using the simple interest method. Our system charged interest on interest. What steps do we take to correct?
09/23/2013
When it is necessary or desirable to perfect security interests in aircraft, engines, propellers or spare parts in the United States a lender must consider a multitude of issues. For many lenders and their counsel the process of recording instruments with the Federal Aviation Administration (the "FAA") and registering aircraft in the United States needlessly remains a mystery. The following is an explanation of the most critical issues a lender must address to ensure that documents submitted to the FAA will be accepted for recording.
07/15/2013
When a sole borrower of a consumer loan dies, should loan interest accrual cease immediately?
07/01/2013
We currently have an FAA Security Agreement for the plane and the engine, however, the engine listed was destroyed. A new engine needs to be added. Does a new Security agreement need to be prepared or an amendment to the original?
06/24/2013
I have a note that references a Security Agreement but there is no Security Agreement attached. Instead there is a UCC that is being use as a Security Agreement. Is this okay, or should there also be a Security Agreement that references the UCC?
06/17/2013
A seller is paying closing costs to the buyer. Do these closing costs need to be identified since some are APR fees and others are not? Can the lender issue a credit toward a portion of discount fees on the HUD1? Since origination and discount fees are APR fees, does the APR need to be reduced by the amount of the credit? Can the APR be over-stated by more than .125 since this is the borrower's benefit?
06/03/2013
Assuming your interest rate is locked at application and your initial APR is below HPML trigger, if loan fees change causing the closing APR to increase (no change in rate) what APOR index date do you use to determine if you have an HPML? I understood it to be the date the rate is locked or set, but now I'm hearing you also have to verify the closing APR to see if you have a HPML?
05/27/2013
What constitutes consideration when lending to an entity, if a co-borrower is not a part of the entity and receives no proceeds or use of the funds?
05/20/2013
A director of a bank has a related interest. An employee of the related interest guarantees a loan for an entity that will provide services for the related interest. In addition, the related interest deducts the loan payments from the service providers check and sends it to the bank. The loan would not have been made without the guarantee of the related interest's employee. Would this loan be attributable to the Director through the Tangible Economic Benefit Rule of Reg O.