Most Popular Lending Content
Written Notice for Changing Equity Line Terms
09/15/2003
We currently have a floor on our equity lines. Our senior lender would like to waive the floor for any customer (new or existing) that will set up an automatic debit from their checking account to make their monthly payment. Would we need to provide anything in writing regarding the new rate for our existing clients that opt to do this?
Rescission: Disbursing Funds Without Signature
09/15/2003
Right of Rescission: After the rescission period has expired, if the creditor is "reasonably satisfied" that the consumer has not rescinded, can the creditor disburse funds without customers signing the notice stating they are not rescinding the transaction?
CIP and Indirect Lending - Lucy Griffin
09/08/2003
CIP and Indirect Lending
by Lucy Griffin, BOL Guru
How to CIP Your Loan Customer - Lucy Griffin
09/08/2003
How to CIP Your Loan Customer
by Lucy Griffin, BOL Guru
Trusts & TIL Requirements -- John M. Floyd and Associates
09/02/2003
We made a loan to two individuals using property that is their primary residence. The property is titled in the name of a Trust. The individuals signed the note as borrowers and the Mortgage as Trustees for the Trust. Our loan document program did not automatically prepare the ROR.We did prepare the ROR for the individuals. We assumed TIL fell into place as the purpose of the loan was consumer purposes, the Borrowers are natural persons, using primary residence as collateral, but titled in the Trust name. In your opinion are we in compliance? We feel that we are.