Re-perfecting a UCC Lien
03/26/2023
When a UCC is terminated, then the following year it is continued, then continued a second time, is that a valid perfection?
You can reach Randy via email at: careyrandy@comcast.net
03/26/2023
When a UCC is terminated, then the following year it is continued, then continued a second time, is that a valid perfection?
03/26/2023
Is it required to have a separate "Agreement to Provide Insurance" form signed for non-real estate secured loans? We are in Tennessee and currently have a section in the Security Agreement that prints with the Note which states the borrower agrees to keep the property insured and if they fail to provide insurance, then the bank may place insurance on the property (Creditor-Placed Insurance Notice) and pass that cost to the borrower.
03/19/2023
We have a board member who sits on the board of a condominium association, but does not receive any compensation to do so by the association. Would making a loan to the condominium association be considered a conflict of interest/Reg O violation? We are thinking not since they are serving on the condo association as a resident (condo owner) in the complex.
03/12/2023
I am looking for clarification on deposit account statements that must be provided for checking or savings account activity, both consumer and business. Reg DD does not require a periodic statement for consumer, but Reg E does, monthly if there is Reg E activity and quarterly if not. What about business accounts since neither Reg pertains to those? If not a requirement, is it a best practice?
03/12/2023
Participation and LIFO Loans
03/12/2023
Instead of offering a preferred rate (discount) when auto-payments are set up for a loan, we want to offer instead a discount on doc fee charges. Is there any regulation/issue that would prohibit us from doing this?
03/05/2023
For a Certificate of Deposit account, can the beneficiary on the account be titled as "Assigns'" in lieu of a specific named beneficiary?
03/05/2023
Google is requiring us to add a Mobile Privacy Disclosure to our Privacy Policy. The changes go into effect March 1, 2023. How long before the change goes into effect does the customer have to receive the updated notice? I would think 30 days, but I can't find that anywhere.
03/05/2023
Is there a requirement for financial institutions to file 1099 tax forms (A,B,C,INT,MISC,NEC) with various states or is just the IRS?
03/05/2023
If a lender has a borrower sign loan documents but has some liquidity issues that extend the funding beyond the rescission period, would that be a UDAP violation? In this example, say the lender expected liquidity to come in from a trade before the rescission was up on the loan. However it was held up for a week. The loan will fund, but a week late. The property is in California if that matters.