08/06/2012
Do we need to run OFAC on a newborn baby whose mother or father have opened a savings account for the baby? We do have the Social Security number for the newborn.
07/02/2012
If a loan is more than 30 days delinquent, can we withdraw funds from their escrow account to make their payment? Are we also obligated to pay their property taxes if there are no escrow funds available to do so? Also, please let me know where I can find the answer in the regs. I've searched RESPA with no luck so I'd like to know how to be better at researching.
06/18/2012
This is in regards to Reg E. Say there is a member who went to an ATM and tried to deposit a check but was unsuccessful. Without cancelling the transaction or pushing "no further transactions" and receiving the card back, the member walks away from the ATM. During this time there had been another person waiting in line to use the ATM. Well as soon as the member left, the other person came up to use the ATM but noticed that the previous person hadn't cancelled the transaction and the ATM still waiting for further instructions on what to do next. The person withdrew $300.00 and then tried to withdraw more but was unsuccessful. Is this a Reg E claim? Obviously it is theft but I don't think it is Reg E due to it not being an error that the credit union made but the member made. I know that the Reg protects the member from being negligent but its not like the member lost the card with the PIN written on the card. The member never finished the transaction and walked away with the card still in the ATM waiting for further instructions.
05/28/2012
Where can I find information on the use of IRA as collateral for a commercial business loan?
05/21/2012
I have a loan for 3.7 million secured by 2 commercial buildings and (8) 4-plexes. We split our entries on the LAR. Would I divide the 3.7 million by 8 (the dwellings)and report as 8 entries on the LAR?
05/21/2012
Does R of R apply to a mobile home without land refi?
02/20/2012
I have a HMDA question. I have loan that is to purchase an apartment complex, 60 apartments in 5 separate buildings. Do I report this all at once or do I report each building separately?
02/06/2012
I have a loan where the purpose is to purchase a residential dwelling. The loan is being secured by three other properties that does not include the property being purchased. Which property do I report on for HMDA?
01/09/2012
What is the minimum amount of identifying information that the issuer of the subpoena must supply to the bank in order for the bank to be legally able to release financial information? Is it a matter of bank policy or federal regulation?
01/09/2012
Can you provide a list of required officer positions? Are these requirements listed in the regulations or are they simply suggestions? I'm trying to determine which officer positions are mandatory for compliance so I may pass this information on to Executive Management.