Most Popular Lending Content
Rescind Waiver for Funds Availability
08/01/2005
Question: We have a loan that closed with the appraisal pending.
Asking About Life Insurance
08/01/2005
My senior management wants to add two questions to our Consumer Loan Application: do you have life insurance, if yes - how much? They believe it would be helpful in the event of future default and collection actions. Would it be permissible to ask this of applicants in light of fair lending or fair debt collection practices?
COMPLIANCE CALENDAR
08/01/2005
AUGUST
Passing on the Costs to Self-Insure
08/01/2005
We charge our members for vendors single interest and pay the insurance company the premium. Can we self-insure these loans and pass the same type of premium to the borrower?
Lending & Mortgage Departments Share Credit Report
08/01/2005
Can our Lending department use a credit report from our mortgage department to offer a pre-approval Home Equity to a customer? Is there a section in the FACT Act that addresses this and can you refer me?