Most Popular Lending Content
Days to First Payment - Who Governs This?
01/17/2005
Our bank has followed the practice of making first payments on all consumer loans come due no later than 45 days after the note date. I have received conflicting answers on whether this is required under Reg Z or state law. Could you please assist in determining if there is a limit to the time period within which a first payment must be due?
Background Checks on New Hires
01/17/2005
The only procedures we have in place for background information on new hires is to pull a credit report and verify references.Can you please share with me some other sources/avenues that you would use in doing background checks on employees?
Are Home Equity Loans HMDA-Reportable?
01/17/2005
Are closed-end home equity loans HMDA-reportable by national banks?
Are Loan Proceeds Payable To Others Rescindable?
01/17/2005
On a mortgage purchase, if we are requiring additional creditors to be paid at closing from the loan proceeds, would those funds be subject to a right of rescission?
Bridge Loans and Rescission
01/17/2005
We have a first lien for the construction of a new home and a second on their existing home. Is the loan, by virtue of the second lien used to purchase dirt and build the new home, rescindable?