One of our loan officers wants our bank to take over a loan from another bank - not refinance, but have the loan assigned to us. Is this even possible? If so, what do I need to consider from a compliance perspective?

Please tell us more about the loan. Commercial or Consumer? Residential mortgage?

This would be a residential mortgage. The odd thing is that one of the borrowers would be completely new to the loan. Example: Daughter/Father had original loan at other institution. Daughter and husband would be on loan that we assume. I've just never heard of this before.

This would be a residential mortgage. The odd thing is that one of the borrowers would be completely new to the loan. Example: Daughter/Father had original loan at other institution. Daughter and husband would be on loan that we assume. I've just never heard of this before.

The new obligation signed by the daughter and husband would satisfy and replace the existing obligation signed by the father and daughter. Therefore adding the husband as an obligor would constitute a refinancing requiring all new disclosures.