Most Popular Lending Content
Fair lending concerns
06/30/2024
Aren’t fair lending concerns limited to mortgage loans?
Reporting business purpose loans under HMDA
06/30/2024
Must business purpose loans be reported?
Right to rescind on future advances loan
06/23/2024
I have a question regarding the right of rescission. On a future advance loan, does the right to rescind apply? The original loan was for $75,000 and secured by their the borrower's principal dwelling. They've paid the note down to $35,000. The new note is a future advance on their property and the note will be for $35,000. I think the right to rescind should apply since it is a new advance, even though the total loan amount is less than the original loan amount. I'm new to compliance and we do not do many future advance loans. We are in Missouri, if that matters.
Bulk sales value in commercial real estate transaction
06/23/2024
When is a bulk sale value required in a commercial real estate (multifamily rentals) transaction according to the OCC?
HMDA reporting of business loans
06/23/2024
I thought business purpose loans were exempt from HMDA reporting.