Most Popular Operations Content
Calculating a customer's IRA RMD
01/19/2025
We have a customer who made an IRA deposit for the previous year. When calculating her RMD, our system is including this deposit in her RMD amount even though it was not her ending balance as of December 31st. We don't believe this to be correct as everything we find says the RMD is based on the end-of-year balance. Are we correct or should we include the deposit she made after 12-31 in calculating her RMD amount?
Terms and Conditions for Online Banking
01/19/2025
We need to update our online banking terms and conditions. Is there anywhere that we can get one that is created already or a place where we can find a template?
Benefits of OCR for document management
01/19/2025
How can OCR technology improve document management?
Electronic delivery of escrow analysis statements
01/12/2025
We are thinking about placing the Annual Escrow Analysis statements on customers' online banking portal (same place where monthly statements reside). In looking at 1024.17 (and its subpart under RESPA), there doesn't appear to be any call out eliminating the need to deliver via USPS. If we went to electronic delivery (within compliance under the ESIGN Act), would we then still have to deliver a physical copy of the annual escrow analysis statement (when required under the same citation)?
Using Counteroffers and Denials Effectively
01/12/2025
While scrubbing files, I found a loan request for a HELOC that did not close due to the house being listed for sale. We can't take collateral that is for sale. The officer started a new request with a different loan product that closed. I believe the first request should have been denied when we found out the house was listed for sale. However, it is past our 30 day window and we also have to report for HMDA. How do we handle this?