Getting Escrow Statements in Sync
10/14/2018
Doing annual statements is a real pain every month. What can we do to make these easier?
Andy Zavoina
Bio:
Andy Zavoina, CRCM, is an Executive Vice President and Chief Relationship Officer with the Glia Group, Inc., best known for its interest in BankersOnline.com. He joined Glia and BOL in 2003.
Mr. Zavoina has been in finance and banking for 35 years. Over 20 years were with a two-bank holding company which had $534 million in assets, 89 branches spanning Texas and nearly 500 ATMs. He managed loan workouts, has been a consumer, commercial and real estate lender, managing those departments, as well as being his banks first Webmaster. He was responsible for compliance -management, -auditing, and -training for both banks.
Andy is a frequent webinar presenter for BOL Learning Connect and a key contributor to conferences put on by BOL Conferences, Inc. In addition, Andy teaches live presentations at state association schools and regional compliance organizations across the U.S. and has served on the faculty of national banking schools. He has written articles and lectured on many facets of compliance, the use of the internet and technology as a tool, as well as compliance in cyberspace.
As a BankersOnline Guru, Andy assists banks in every day, and not so every day, compliance questions on BankersOnline, BankCompliance.com and other organizations.
Mr. Zavoina is a recipient of the American Bankers Association’s Distinguished Service Award for his involvement and accomplishments in the field of regulatory compliance management. He is a past Chairman of the ABA’s Compliance Executive Committee, the Editorial Advisory Board for the ABA Compliance Magazine and served as a member of the ABA’s Compliance School Board. He also served on the Texas Bankers Association's Compliance Committee.
He is a graduate of the ABA National Commercial Lending School, National Compliance and National Graduate Compliance School and is a Certified Regulatory Compliance Manager with the Institute of Certified Bankers.
You can reach Andy on the Internet by using his e-mail address, andyz@bankersonline.com, or visiting https://www.bankersonline.com
Mr. Zavoina has been in finance and banking for 35 years. Over 20 years were with a two-bank holding company which had $534 million in assets, 89 branches spanning Texas and nearly 500 ATMs. He managed loan workouts, has been a consumer, commercial and real estate lender, managing those departments, as well as being his banks first Webmaster. He was responsible for compliance -management, -auditing, and -training for both banks.
Andy is a frequent webinar presenter for BOL Learning Connect and a key contributor to conferences put on by BOL Conferences, Inc. In addition, Andy teaches live presentations at state association schools and regional compliance organizations across the U.S. and has served on the faculty of national banking schools. He has written articles and lectured on many facets of compliance, the use of the internet and technology as a tool, as well as compliance in cyberspace.
As a BankersOnline Guru, Andy assists banks in every day, and not so every day, compliance questions on BankersOnline, BankCompliance.com and other organizations.
Mr. Zavoina is a recipient of the American Bankers Association’s Distinguished Service Award for his involvement and accomplishments in the field of regulatory compliance management. He is a past Chairman of the ABA’s Compliance Executive Committee, the Editorial Advisory Board for the ABA Compliance Magazine and served as a member of the ABA’s Compliance School Board. He also served on the Texas Bankers Association's Compliance Committee.
He is a graduate of the ABA National Commercial Lending School, National Compliance and National Graduate Compliance School and is a Certified Regulatory Compliance Manager with the Institute of Certified Bankers.
You can reach Andy on the Internet by using his e-mail address, andyz@bankersonline.com, or visiting https://www.bankersonline.com
Contact info:
You can reach Andy on the Internet by using his e-mail address, andyz@bankersonline.com, or visiting http://www.bankersonline.com.
Questions Answered
Remove Joint Owner of DDA Acct Due to CIP Info?
10/14/2018
Can we remove a joint owner of a DDA account if they did not provide CIP information within a reasonable period of time? We have the primary account holder's information so we don't want to close it. However the joint party never returned with their information, even after notices were sent.
Regs on Ceasing Communication w/ Borrower
10/07/2018
What regulations address ceasing communication with a borrower if requested, or if we receive notification that they are represented by an attorney? We are reviewing our Loss Mitigation process.
Documenting joint intent
10/07/2018
For telephone applications, we ask the caller if there will be a joint borrower and who that will be. Would checking the joint applicant box on our loan system at the time of the verbal application be considered enough evidence to show joint intent?
Statement Error Due to an Acquisition-Reg E
10/07/2018
We had a statement error due to an acquisition. Statements from the old bank cut on 05/25 so the statement date was XX to 05/25. We sent a new statement dated 05/29-05/31. The time between was the weekend plus a holiday. The customer was paid interest and EFT transactions posted on one of the two statements. The question is: Will what appears to be a gap of 3 days between statements, be a Reg E issue?
How much escrow cushion is allowed?
10/07/2018
How do we know when a cushion is allowed?
Escrow During Construction at Completion Value
09/30/2018
Can we collect property taxes during construction based on the completed value of the home?
Joint applicant added later
09/30/2018
Wife applies for an auto loan by herself and is approved. Subsequent to signing the loan agreement, the husband wants to be added to the loan as a co-borrower in order to get on the title of the vehicle. No new application is taken and the creditworthiness of the husband is not verified. Is there a joint intent issue here?
Requirement to Maintain Hazard Insurance Letter
09/30/2018
In the past we sent a letter annually to our mortgage customers regarding their requirement to maintain hazard insurance on the property they have pledged as collateral. We wanted to check to see if this is still something we need to be sending out each year or if this is something we can do away with? We do now have the Mortgage Blanket policy which covers all collateral including commercial property for hazard insurance. We understand this annual letter is not a Federal regulation, but want to verify it is not required by IN?
Spousal guaranty
09/23/2018
During the underwriting process, what if the bank determines that a guarantee will be necessary on the loan, are we permitted to require the spouse to guarantee? For example, in evaluating the application, the bank discovers that most personal assets are jointly owned, or the spouse contributes significantly to the income stream, and therefore the applicant would not be individually creditworthy.
Pages
Banker Tools View All
A collection of useful resources for various areas of the bank which have been developed by members of the BankersOnline staff or have been created and contributed by users of the BankersOnline site.
Banker ToolsBanker Store View All
From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:
Banker Storehot right now
Looking for effective, convenient training on a particular subject?
BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.