Skip to content
BOL Conferences
Learn More - Click Here!

New Reply Thread Options
#2214814 - 06/03/19 08:50 PM Lien on loan
Anonymous
Unregistered

Is there a certain time frame that the Bank has to get proof of lien for a loan?
Ex: Vehicle Title for consumer loan

Or is this up to each institution?

Return to Top Reply Quote Quick Reply Quick Quote
#2214816 - 06/03/19 08:57 PM Re: Lien on loan Anonymous
MScarn6942 Offline
Platinum Poster
Joined: Aug 2015
Posts: 756
Land Lacking in Lakes, IL
To my knowledge, there's nothing specified in a regulation, though I imagine an exam team would tell you it needs to be reasonable. That may be because it's a safety and soundness issue, not a compliance one. That said, it would be up to bank policy.
_________________________
"Pressure is something you feel when you don't know what you're doing" - Peyton Manning

Return to Top Reply Quote Quick Reply Quick Quote
Quick Reply:
HTML is disabled
UBBCode is enabled




Moderator:  MagicCity, P*Q, Truffle Royale