Bio:
Jack Holzknecht is the CEO of Compliance Resource, LLC. He has been delivering the word on lending compliance for 39 years. In Jack's 34 years as a trainer over 125,000 bankers (and many examiners) have participated in his live seminars and webinars. Jack's career began in 1976 as a federal bank examiner. He later headed the product and education divisions of a regional consulting company. There he developed loan and deposit form systems and software. He also developed and presented training programs to bankers in 43 states. Jack has been an instructor at compliance schools presented by several state bankers associations. He developed and delivered compliance training for the FDIC and OTS for ten years. He is a Certified Regulatory Compliance Manager and a member of the National Speakers Association. He is also a "BOL Guru."
See all Upcoming and On-Demand training presented by Jack.
Questions Answered
04/08/2018
When forcing escrows due to delinquent taxes, are we required to collect a 2month cushion upfront? We typically do on new loans that require it, but are not sure if we need to on existing loans where escrows are forced.
04/08/2018
If you deny an application because the applicant cannot get clear title on the property what reason would you use on the denial notice (would you create an “Other” reason)?
04/01/2018
If you do a preapproval/prequalification where you have five pieces of information (not the property location) and the customer is approved for an amount but the customer never comes back to the bank. What is the proper procedure in this situation?
04/01/2018
If a loan is secured by a residence and by a detached structure that clearly qualifies for the detached structure exemption do we have to waive the insurance requirement on the detached structure?
04/01/2018
What if the customer does not pay their shortage within 30 days? Just spread it over 12 months?
03/25/2018
When a covered loan is secured by multiple buildings located in a special flood hazard area is a policy required on each building.?
03/25/2018
In regards to the check box options on an adverse action notice, as a commercial lender, I would like to add “Length of time in business is too short” as we do deny credit to many newly established companies (per our credit policy), so my question is this: Can I create my own reason(s) or are there a specific set of reasons that I need to adhere to? Where does ‘length of time in business too short’ (or verbiage to that effect) fit on an adverse action notice?
03/25/2018
Our bank does not set up escrow accounts for any loans that we keep in our portfolio other than HPML loans; however, we do establish escrow accounts for our secondary market investors before transferring the loan and escrow to them. Does this disqualify us from being able to utilize the small lender exception under the flood requirements?
03/18/2018
Is a construction only loan to a consumer covered by HMDA when there will be a separate loan for the long term financing??
03/18/2018
Is flood insurance required when a building is located in a special flood hazard area that is located in a non-participating community?
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