Most Popular Lending Content
Retention of small business loan files
06/04/2023
How long does a financial institution need to retain Small Business Loan files on a customer? We have a couple of opinions: 7 years or forever. It there a state or federal requirement or just a best practice based on exams or potential litigation involving the loan?
Expiring vs. missing credit and loan documents
06/04/2023
What is the difference between expiring and missing documents?
Emerging risk to your financial institutions fair lending and CRA programs
06/04/2023
Did you know Small Business Data Reporting, Section 1071 will have an impact on your fair lending and CRA programs?
New Small Bus. LAR, Does it Duplicate HMDA
06/04/2023
Regarding the new small business data reporting requirement expected to come out soon. Will this "1071" requirement be similar to HMDA and CRA whereby if it’s HMDA it cannot be reported as CRA? So if it’s a HMDA reportable loan, then we won't report it for the small business data?
Irregular loan terms and TRID
05/28/2023
This is for a TRID - Lot/Land loan. Is an Irregular payment schedule with 12 months interest only payments followed by a payout term (ex. 24 months P&I with 108 months amortization, and any balloon) allowed?