Most Popular Lending Content
HMDA reporting and loan purpose
11/17/2024
If we have a consumer HELOC denial with the stated purpose of "purchase land to build a gas station," is it HMDA reportable?
HELOC historical table and SOFR
11/17/2024
Reg Z section 1026.40 requires us to disclose a historical table to reflect the most recent 15 years of index values. However, SOFR has only been available since 2018. Do we only need to disclose the years starting from 2018 even when the length of the plan is more than 15 years?
Loan files: moving from paper to electronic
11/17/2024
Why might an institution decide to digitize its loan files?
Loan files and financial institutions
11/17/2024
What are the main use cases for loan files?
Administrative loan renewals and interest rate change
11/10/2024
I continue to get push back from our lenders to change rates when we have Administrative Renewals. Reason for an Admin Renewal may be that the customer does not have a current Tax Return or Personal Financial Statement. Our current practice, when doing an Admin Renewal, is to only extend the maturity date by 90 day and make NO other changes. Is anyone else making rate changes at the time of Admin Renewals or doing them for longer than 90? Is this a regulatory issue with commercial and/or consumer loans and if so, what regulation would we be violating?