Most Popular Lending Content
Mobile Homes – Learn what is exempt and what is not exempt from Flood requirements
03/03/2024
We made a loan to a borrower for the purchase of 2 mobile homes located in a mobile home park in Florida. The homes are “strapped down” to meet state/local requirements and have electricity and plumbing. However, we feel the home can be disconnected and moved and would not require us to perform a flood determination. Are we correct?
Smart use of MSAs
03/03/2024
I thought that the CFPB came out and said that banks could no longer engage in MSAs because of a large enforcement action?
Can we avoid Reg O by making a CD-Secured loan?
03/03/2024
To avoid Reg O conflicts, we are thinking of granting a loan to an executive officer that is secured by a CD at our bank. Does this type of collateral eliminate any Reg O concerns?
Security Agreements and Loan Renewals
03/03/2024
When a renew a loan with collateral should a new Security Agreement be completed as well?
Applications, Reg B, Fair Lending
02/25/2024
Can you remove the primary borrower off a pending loan? I was under the impression that as long as both borrowers were married, and they both completed the application and received the initial disclosures that the primary borrower could be removed and the co-borrower moved over to the primary borrower position. This was the only way, and any other attempt would result in a denial, or withdrawn application. We have done this with a couple of our loans, but upper management wanted documentation stating that this can be done.