Most Popular Lending Content
Must an in-house appraisal reviewer be a licensed
05/26/2024
My understanding is that Fannie Mae requires that a seller/servicer have an internal appraisal reviewer that solely reviews appraisals. If so, must this individual be licensed as an appraiser?
SCRA relief on a credit card: 6% for all transactions?
05/26/2024
My bank just received an SCRA request for rate relief on a customer’s credit card line. The card normally has a 22.99% interest rate, so 6% is a big drop! How do we do it? Is it only on existing balances up to this point, or does it need to remain at 6% for all past and future transactions, until his active duty ends?
Notice of SCRA Rate Adjustment
05/26/2024
Does any regulation require an institution to send a reduced rate letter when adjusting the rate due to an SCRA claim on a loan?
What is “Abusive,” technically?
05/19/2024
In terms of UDAAP, what makes something “Abusive”?
Does a Bankruptcy Workout Require an MLO
05/19/2024
We have an employee that serves as the bank's Bankruptcy Officer. This employee does not lend directly to the public. They do not have an approved lending limit. This employee negotiates with the trustee/court/lawyer/borrower on an active bankruptcy to restructure loan terms according to the bankruptcy agreement. Would this employee need to be a registered MLO (SAFE Act) if they are negotiating terms for an active bankruptcy on a consumer mortgage loan?