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April 22
A Banker's Guide to Virtual Currency
Andrew Beal

April 24
BSA/AML Compliance: Writing the SAR Narrative
Ken Golliher

April 29
HSA Basics
Whitney Johnson

April 29
Required Training for Loan Originators
Mary Beth Guard and Jack Holzknecht

May 13
Overdraft Practices in Today's Regulatory Environment
John Burnett

May 14
Reg E Claims - Allocating Liability Correctly
Andy Zavoina



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#1469356 - 11/17/10 03:49 PM HELOC Suspension Letter
Dani York, CRCM Offline
Power Poster

Registered: 04/13/05
Posts: 3111
Loc: TN
Does anyone have a HELOC suspension letter they are willing to share? I'm looking for a sample or 2 to compare mine to. Thanks!

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Lending Compliance
#1469638 - 11/18/10 09:00 AM Re: HELOC Suspension Letter [Re: Dani York, CRCM]
Sinatra Fan Offline
Power Poster

Registered: 07/19/02
Posts: 5290
Loc: New Jersey
Dani, send me a PM with your email address or fax number and I'll send you a copy of ours.

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#1469642 - 11/18/10 09:06 AM Re: HELOC Suspension Letter [Re: Sinatra Fan]
Dan Persfull Offline
10K Club

Registered: 08/28/02
Posts: 40004
Loc: Bloomington, IN
This is to inform you that effective immediately all credit advance privileges for your Home Equity Line of Credit have been suspended.

This suspension is based on a routine evaluation of your outstanding credit with The Peoples State Bank and your ability to service your total debt. Based on our current account review and information obtained in your credit report we have a reasonable belief that you are unable to meet your debt repayment requirements.

For your reference this suspension is being imposed under the provisions of the Home Equity Line of Credit Consumer Open-End Agreement executed by you on September 2, 2004. More specifically Section 12 Subpart B of the agreement.

In order to reinstate your credit privileges under the original terms of the agreement you must send us a written request to that effect. Your credit privileges will only be reinstated if we determine that the condition which caused us to prohibit additional extensions of credit no longer exists and that none of the other provisions for suspension under Section 12 exists. If appraisal or credit report fees are incurred in making the determination, we may (if allowed by applicable law) charge you such fees.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

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#1469684 - 11/18/10 09:43 AM Re: HELOC Suspension Letter [Re: Dan Persfull]
rlcarey Offline
10K Club

Registered: 07/16/01
Posts: 48538
Loc: Galveston, TX
This accompanies the Reg. B and FCRA adverse action notice - correct?
_________________________
The opinions expressed are my own, take them or leave them.

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#1469724 - 11/18/10 10:09 AM Re: HELOC Suspension Letter [Re: rlcarey]
Dan Persfull Offline
10K Club

Registered: 08/28/02
Posts: 40004
Loc: Bloomington, IN
Yep. This is page 2 which I forgot to copy and paste.

DISCLOSURE OF USE OF INFORMATION OBTAINED FROM AN OUTSIDE SOURCE

Our credit decision was based in whole or in part on information obtained in a report from the consumer reporting agency listed below. You have a right under the Fair Credit Reporting Act to know the information contained in your file at the consumer reporting agency. The reporting agency played no part in our decision and is unable to supply specific reasons why we have denied credit to you. You also have a right to a free copy of your report from the reporting agency, if you request it no later than 60 days after you receive this notice. In addition, if you find that any information contained in the report you receive is inaccurate or incomplete, you have the right to dispute the matter with the reporting agency.

CREDSTAR
6350 Laurel Canyon Blvd, 4th Floor
North Hollywood, CA 91606
Toll Free Number (800) 767-8569

EQUAL CREDIT OPPORTUNITY ACT NOTICE

The federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to enter into a binding contract); because all or part of the applicant's income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The federal agency that administers compliance with this law concerning this creditor is:

FDIC Consumer Response Center
2345 Grand Boulevard, Suite 100
Kansas City, MO 64108
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

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#1469743 - 11/18/10 10:21 AM Re: HELOC Suspension Letter [Re: Dan Persfull]
Dani York, CRCM Offline
Power Poster

Registered: 04/13/05
Posts: 3111
Loc: TN
Thank you all so much!

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#1506816 - 02/08/11 03:15 PM Re: HELOC Suspension Letter [Re: Dani York, CRCM]
Buckeye Offline
Member

Registered: 01/06/04
Posts: 59
Loc: Ohio
Does anyone have a reinstatement letter that could be used when the bank is responding to a borrower request for reinstatment and the bank has determined that they should have access to their line restored based on current information?

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