Dan is Vice President and Compliance Officer for The Peoples State Bank with its main office located in Ellettsville, IN and supporting nine branches in surrounding communities. The bank is a privately owned bank that began its existence in 1904.
Dan entered the financial services arena in 1974 when he went to work for Commercial Credit Corporation. He worked eighteen years with Bank One and three years with the Indiana University Employees Federal Credit Union. In addition to serving as a Compliance Officer, he has served as a Collection Officer, Consumer Loan Officer, Commercial Loan Officer and Loan Operations Officer. His primary duties falls within lending compliance, training and consumer loan reviews.
He attended Three Rivers Junior College in Poplar Bluff, MO and Arkansas State University in Jonesboro, AR. He is also a graduate of the ABA Bank Card School, ABA Commercial Lending School and ABA National Truth-in-Lending Compliance School.
I have a question regarding HMDA reporting and I hoping you can help me out. So for the NMLSR ID we are reporting the NMLS ID of the loan officer who approved denied withdrawn/canceled the application. We have several loans that were withdrawn by the member prior to a loan officer making a decision and were reporting N/A. I think we should be reporting our own NMLS number for those applications. Could you please let me know what you think?
Where could I find a list of required initial and final loan disclosures for closed-end, 12-month construction loans?
For HMDA, what date is used for a denial when the decision was made on one date, say July 12, but the notice was not sent until July 16?
Does a mortgage lender's business card require an Equal Housing Lender logo?
What do the letters LE mean after a person's name on a check?
I need some help with the right of rescission rule interpretation. On a refi loan, if the borrowers receive all TRID disclosures on a Saturday but our
offices are closed that day so their signatures would have to be made on Monday. My question is, when should the 3 day rescission period begin? On
Monday- Wednesday ( based on disclosures received on Saturday) or Tuesday-Thursday ( based on the effective signing date of Monday)?
Reg Z states: 1026. 15(a)(3)
i. The period within which the consumer may exercise the right to rescind
runs for 3 business days from the last of 3 events:
A. The occurrence that gives rise to the right of rescission.
B. Delivery of all material disclosures that are relevant to the plan.
C. Delivery to the consumer of the required rescission notice.
As to a loans HOEPA status, are second homes and vacation homes considered
not applicable for HOEPA which would make the status code 3 on the HMDA LAR
Are we required to disclose on a consumer payment deferral agreement that deferring a payment will lead to paying additional interest over the life of
the loan and a larger final payment?
I have a client (a lender) who orders their credit reports from "XYZ Data" and when a loan is declined, they list Equifax on their Adverse Action
Notice (with appropriate address and phone number) and they have now been told that because "XYZ Data" is considered a reseller of credit under the
FCRA 603(u) that they should also list XYZ Data (along with its name and telephone number) on the Adverse Action Notice. Is this true?
We have a commercial loan where the borrower took out a loan to reimburse himself for the purchase of an investment property. The property was already
owned by the borrower at closing and none of the proceeds were being used to pay off any other loan or to improve this home. Would this be HMDA
reportable, and as what purpose?