05/28/2012
One non-revolving line of credit - 13 real properties taken as collateral, all SFR's, all purchases - all non-owner occupied. Which address would be used to report under HMDA?
05/21/2012
We are a small community bank and have a loan opportunity across state lines. We have never loaned outside our lending radius. We were wondering if the borrower is in one state and we are in another, do we use the note for the other state and not our state?
05/07/2012
I have a question regarding correct filing requirements for perfecting a security interest. The company is incorporated in Delaware and they are registered in Virginia (not domesticated). Our collateral is not real estate and is not farm/timber related collateral. Do we file in both Delaware and Virginia?
04/30/2012
I have a question regarding correct filing requirements for perfecting a security interest. The company is incorporated in Delaware and they are registered in Virginia (not domesticated). Our collateral is not real estate and is not farm/timber related collateral. Do we file in both Delaware and Virginia?
02/20/2012
Taking a Wealth Mgmt Account as collateral, would you use a Commercial Pledge Agreement and/or a Control Agreement and Acknowledgement of Security Interest as Collateral?
10/24/2011
Who does the right of rescission apply to? If a husband and wife own a home and the husband's mother lives with them but is not on the deed, would the mother have ROR if the house was being used as collateral on a car loan the mother was applying for?
05/16/2011
We have a borrower who purchased a vehicle and uses it as collateral on the loan. The borrower later wishes to add his wife to the Title of the vehicle. Does the wife have to sign an already existing Security Agreement if the State Licensing Department only requires a letter from the bank that gives permission for her to be added to the Title?
02/07/2011
We have a bank client who made a loan to a customer with property as collateral that is located in a flood zone. The property has a mobile home on it, but the bank only took the land as collateral. The mobile home is able to be moved from the property, but there is a deck around it that is attached to the property. Would this loan be required to have flood insurance even though the mobile home is not part of the collateral?
01/31/2011
Do I have to put the address of the real estate being taken as collateral (primary residence) in the Fed box on the Preliminary Disclosure Statement or can I just put "I'm giving a security interest in real estate"?
01/17/2011
Are funds held as collateral exempt from an IRS levy, or do these funds need to be included in the bank's response to the IRS levy received?