Most Popular Lending Content
Mortgage Investor Requirements
06/02/2024
Are there any requirements at either the federal or state level that would require an investor that has purchased a pool of loans to be licensed? Would the answer also depend on who is servicing the loans?
Can we advertise a credit card product as “fixed” if it has a fixed introductory rate?
06/02/2024
We have a credit card product that has an introductory “fixed” rate that changes after 12 months to a variable rate APR. Management wants to really promote that fixed rate period, but I don’t think we can use the word “fixed”, can we?
Loan file admin
06/02/2024
What are examples of loan file administration tasks?
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?