11/03/2008
What is the best way to estimate risk? Do we take controls into consideration?
09/17/2007
Please help me understand the ramifications and restrictions of the following endorsement. A check is presented to a teller for negotiation and the check is payable to Jane Doe and Big Bank, USA. Big Bank, USA stamps the back of the check with "Pay to the order of named Payee without recourse" followed by a signature line for a designated person from the bank to sign (which they have). Exactly what does the "without recourse" statement mean? Is "Big Bank, USA" signing the check over to the payee "without recourse" to them (the payee) or to the negotiating bank, or does the "without recourse" mean that the negotiating bank has no recourse against the business that stamped the check?
07/24/2006
If I am renewing a loan that is holding the primary residence as collateral, do I still need to wait three days to disburse? (Right of rescission)
10/17/2005
The bank was served with a tax levy, and the customer has a certificate of deposit. However the customer assigned the certificate of deposit to the bank for collateral on a loan. The hold is on the entire CD amount. Is the bank obligated to release our hold and pay the levy?
09/01/2005
C&S Marketing is offering a product named LoanSafe that allows residential mortgage originators and secondary investors to assess the risk value and fraud potential in a loan transaction.
05/23/2005
Is there a regulatory restriction against pledging a demand deposit (checking) account as collateral for a loan? One of our lenders failed to adhere to our loan policy of only using certificates of deposit as collateral. I am aware of the restriction against pledging IRA accounts and savings bonds.
05/23/2005
Can a legal hold be placed on a checking or money market account for loan collateral?
04/04/2005
Richard Insley answered the following question: When advertising, if you show LTV vs. a down payment does this trigger reg Z and full disclosure? Answer: Loan: No Credit sale: Yes Would you please explain the difference between a loan and a credit sale.
10/10/2004
Banks in Sweden have an unusual problem with thefts from automated teller machine vaults because dynamite is readily available in that country, making it easily possible to blow up ATMs.
01/05/2004
We are getting ready to update our real estate collateral material. Where can I find current samples of the same, that other lenders are using to promote their services either as direct mail pieces or leave-behinds in model homes, etc.?