Of course!!...........no....didn't realize that. I suspect that zero of our consumer loans are at a rate greater than 10%. BUT....I just HATE to give lenders (or actually the lender's administrative assistant) decision making duties, like deciding if the rate is over 10% or if the loan is a Texas home equity loan....seems simple enough, but.....frontline staff, well, you get the picture.
Seems easier to simply mail consumer loans back, as a practice/procedure. We're too small to centralize such a function. Each branch maintains the loans made at that branch. But would it fulfill the requirement to "cancel" a printout of an imaged copy of a promissory note/security instrument and mail the copies?
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The more you sweat in training, the less you bleed in battle.......