10/20/2008
Can you loan money secured by your bank's stock?
06/30/2008
How can I easily explain to someone what check kiting is and why it is illegal?
06/02/2008
When a bank has an indirect lending relationship with a car dealer, then how does it go about complying with enhanced due diligence, CIP, etc.?
04/01/2008
A sample of 1,769 depository institution SAR narratives was reviewed to identify additional trends and patterns reported in those narratives.
03/31/2008
What is legally required when renewing notes or extending/<wbr>modifying loans tied to a mortgage? We currently use a note renewal form that contains a new Fedbox with new interest rates that the customer signs. We also have a loan modification form that we use if a mortgage is involved if the loan is extended or modified. However, what if all parties liable on the original note or on the mortgage do not sign the new modification agreement? Rarely do all parties come in to renew and/or modify a note. Could you please give me some advice on what to do?
03/24/2008
We have an officer that is wanting to do away with email and internet because she is afraid of a virus shutting down our system. We have proper firewalls/virus programs etc. How can I explain to her that our virus programs are designed to keep this from happening? She is wanting me to tell her with 100% certainty that nothing will hurt our system. I feel comfortable with the protection that we have however, I cannot guarantee that nothing will happen.
03/03/2008
Dana Turner, a BOL Guru, has stated in several presentations that "a change in the institution's environment often necessitates a change in the institution's security strategy." How far should we carry this line of thought?
02/11/2008
Loan A to John Doe is secured by a UCC filing for inventory and accounts. Loan B made to John Doe a year later is cross collateralized with the same collateral. Loan A has the original security agreement and Loan B does not get a new security agreement. We reference the original security agreement from Loan A in the Promissory Note of Loan B. Is this correct or should we prepare a new security agreement with Loan B even though the UCC was filed a year prior to Loan B being made? If Loan A pays off and we move the security agreement over to Loan B are we perfected?
10/08/2007
When is it required to charge GRMA? Is it on all residential (1-4) property or just when recording DSD on a principal dwelling?
09/03/2007
When should lenders order OFAC on loans? We are running them twice, once when the application is received (why go through the process if we get a hit) and once again after docs are ordered and before the loan is booked. Is there any standard we should adhere to?