Most Popular Lending Content
Merging Required Service Providers on the Same GFE
06/05/2006
We are merging with another bank that has no geographical overlaps in service areas. Do we have to merge all required service providers onto the same GFE when geographical restraints and operational differences will keep our offices operating separately? For example, they will continue to use a different flood provider than our offices even though we are the same institution.
Requiring Both Spousal Signatures to Perfect Lien
06/05/2006
In a community property state, in regards to married couples, do both spouses have to sign the UCC2 to perfect our lien or will one signature suffice as long as they both sign the security agreement?
Reg B & Indemnity Deeds of Trust
06/05/2006
I am confused about Indemnity Deeds of Trust and the effect on Reg B signature exclusions. I have been taught that no matter who you are, if you are a co-owner of a property being granted as collateral by an IDOT you must guarantee also. I know that IDOT's were created for the purpose of securing guarantees not the reverse, but that is the reality. Is this just a back door to get the spouse to personally guarantee?
Signing the New Note on a Loan Modification
05/29/2006
When we increase the loan amount on an existing construction loan, we do a modification of the loan? Do we need to have the member sign a new note?
Reg B - Lending to Persons with Disabilities
05/29/2006
I am on the board of a non-profit housing program. During our family selection process we ask if they or any dependents have a disability. According to Reg B section 202.8 we are allowed to do that if it is part of the selection process (we receive monies from the Lions who require it to be used for a person with a disability) but we also provide housing for those who are not disabled. Would it be prudent to have two separate application processes? One for those who would like to apply for the house using Lions money which requires a disability and one that is open to others without regard to disabilities? If you were wondering, yes, we are subject to Reg B because we carry the mortgages on the home, hence we provide credit.