Skip to content
BOL Conferences
Learn More - Click Here!

Thread Options
#2008501 - 04/16/15 04:49 PM Note and incorrect Usury
Live 2 Comply Offline
Gold Star
Live 2 Comply
Joined: Sep 2009
Posts: 341
Ok, so a loan officer completed a loan and after reviewing it was noted they used 286.6 instead of 360. The loan was not close to any rate limits, so would we need to redo the note or would it be acceptable to only notate the file of the mistake?

Return to Top
#2009739 - 04/23/15 02:55 PM Re: Note and incorrect Usury Live 2 Comply
Irishguy Offline
Platinum Poster
Irishguy
Joined: Aug 2008
Posts: 613
Kentucky
Do you mean that they referenced 286.6 (which has been repealed) instead of referencing 360 or do you mean they used limits set forth in the repealed section?

Return to Top
#2010489 - 04/27/15 05:43 PM Re: Note and incorrect Usury Live 2 Comply
Live 2 Comply Offline
Gold Star
Live 2 Comply
Joined: Sep 2009
Posts: 341
They referenced 286.6 instead of referencing 360.

Return to Top

Moderator:  Jack Holzknecht