If a consumer has a rate on a specific credit card and voluntarily chooses to apply for a higher rate card product with the same institution, does the institution have to protect the lower balance at the lower rate or because the consumer asked for the new higher rate product can the entire balance be moved to the higher interest rate? So say a non rewards card and the consumer wants a rewards card and they agree to moving the existing balance over to new rewards product.
If a business customer has a privately owned ATM in their business, are they considered an MSB?
We issued a Loan Estimate for a bridge loan to purchase a home to be secured with the purchased property and the applicant's current residence. Due to timing circumstances with the applicant and the sellers, the applicant now wants to expedite the purchase by using an investment account and use the TRID loan to get reimbursed. Can I use the same application and re-disclose the LE as a refinance or home equity purpose?
Our borrower is an individual. The purpose of the loan is refinancing a first lien with another lender. The property owner is Trust. Is this acceptable and do you have any recommendations for dealing with this scenario?
The maximum amount of flood insurance that can be purchased on a condo is 80% of the replacement cost of the building or the total number of units in the condo building times $250,000, whichever is less. What if there is no documented Replacement cost on the building, should we use the appraisal value as the basis of our calculation?