I work for a firnancial insitution and wanted to find out regulatory guidance regarding the length of time allowed prior to the first loan payment. General guidelines is 45 days but is this a regulatory requirement? If not, can we extend the first loan payment to 55 or 60 days?

I'm sure someone here can give you the legal parleze to this question - but from what I remember the old 45 day rule was for Rule of 78 loans along (llloooonnngggg) time ago. I do see alot of bank that still use 45 days as a general rule for guidance. We do, in fact, here.

This will be under your state rulings, if any.

If the loans will be sold, also pay attention to investor requirements.