Most Popular Lending Content
"Written App" for Current Borrower Credit Request
10/03/2011
Is there a regulation that says we must have a "written application" for each credit request on a "current borrower" (one who has debt with us already) or is this up to bank policy or procedures? I recently inherited some portfolio where no credit reports are in file and I have been pulling them to analyze the credits.
Cash Out Refi of Investment Property-HMDA?
10/03/2011
A borrower is getting a cash out refi of investment property. The money is to reimburse their reserves after they bought a house with cash. Is this a HMDA loan?
Consumer Construction: Open-End or Closed-End?
10/03/2011
Is a consumer construction loan considered open-end or closed-end?
Cooling Off Period after Closing for Home Equity
09/26/2011
Is there a cooling off period after closing for a Home Equity loan? I can find info on Home Improvement loans, but not equity.
Problem w/Auto Transfer Instead of Monthly Payment
09/26/2011
I made a term loan (24 monthly payments of a certain dollar amount). The customer asked if he could auto transfer from his ckg acct the amount of $100.00 every two weeks instead of the monthly payment that was on the note. I said yes and then got wrote up on it and had to cancel the auto transfer. Why was I in the wrong? Could I have done the auto transfer, say, a month after the fact?