Most Popular Lending Content
My bank is adding an in-house credit card program. What do I do?!
06/09/2024
My boss told me today our bank is seriously considering doing an in-house credit card program. HELP! I don’t even know where to begin. What should I expect and where can I learn more?
Is this loan covered by the Military Lending Act?
06/09/2024
Do I need to have an MLA search for a consumer real estate loan with no structures?
SCRA protections of assets of servicemember giving
06/09/2024
Under the The Servicemembers Civil Relief Act (SCRA), (50 U.S.C. § 4026), it states that under "Availability of non-business assets to satisfy obligations" that If the trade or business (without regard to the form in which such trade or business is carried out) of a servicemember has an obligation or liability for which the servicemember is personally liable, the assets of the servicemember not held in connection with the trade or business may not be available for satisfaction of the obligation or liability during the servicemember’s military service. Do the "assets of the servicemember not held in connection with the trade or business" include a personal guarantee of the servicemember?
Filing tasks and paper loan files
06/09/2024
What types of filing tasks are involved with a paper-based approach to loan file management?
What is the SAR amount to report?
06/02/2024
We had a joint mortgage loan application (an elderly husband/wife). The wife did not want husband to know she was buying a house as he is in a nursing facility and she feared he would want to move into the new home. The husband's income was needed for the loan. The bank would not accept the POA provided for him for the loan purpose as it was not prepared by an attorney, and the bank knew the back story. The loan was denied and a SAR is being filed. If not for the subterfuge, the loan would have been approved and the loan qualified for the First Time Home Buyer Grant of $20,000 which would have been used as money down. Should the grant money be included in the total amount reported on the SAR?