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#903948 - 02/13/08 03:14 PM rate changes - variable rate loans
complyorelse Offline
Gold Star
Joined: Nov 2007
Posts: 448
U.S.
Is there a requirement for a separate notice to be sent to customers with variable rate loans when the interest rate changes - outside of it being stated on the monthly statement?

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Lending Compliance
#903961 - 02/13/08 03:27 PM Re: rate changes - variable rate loans complyorelse
Richard Insley Offline
10K Club
Richard Insley
Joined: Oct 2000
Posts: 10,180
Toano, VA
You asked about "loans", not "lines", so is this closed-end credit?
_________________________
...gone fishing.

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#903974 - 02/13/08 03:36 PM Re: rate changes - variable rate loans Richard Insley
complyorelse Offline
Gold Star
Joined: Nov 2007
Posts: 448
U.S.
I apologize - open-end lines of credit

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