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#2240503 - 07/31/20 08:57 PM Holds on LOC Advances
WDCA Offline
Member
Joined: Nov 2015
Posts: 76
Is it permitted to place a hold on a personal loc advance in order to allow a check payment to clear? We have instances where the borrower is able to draw on the line prior to the last check payment being returned to us as insufficient - which exceeds the total line given to the borrower.

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Lending Compliance
#2240505 - 07/31/20 09:08 PM Re: Holds on LOC Advances WDCA
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 78,965
Galveston, TX
No - unless you have that built into the credit line agreement, but that would only happen once before I called the line
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