11/05/2001
We have a question concerning marking the boxes under "Security" in the Fed Box. Is there a problem with automatically marking the boxes that say, "collateral securing other loans with you may also secure this loan" and "my deposit accounts and other rights to the payment of money from you".
10/01/2001
I am in dire need of puchasing a used car. The only problem is that I have somewhat limited and poor credit. I wastold that I will need a co-signer but I can't find anyone to do it!! What I would like to know is if anyone or any financial institution would loan me the money if I had my pay checks direct deposited to that institution and I authorized them to deduct my monthly payment before I even saw my money? I know I can afford to do this, I gross $1280.00/month and I would need a loan for $14,000 to purchase a 1998 vehicle with 60mos. to pay it back. Please tell me if I there is any hope out there for me.
09/03/2001
Recently I ran into the following situation regarding the 3 day Right of Recission: Borrower is a business, loan was to be secured with the business property and the owners residence was used more as an abundance of collateral (largely because we have always taken it on previous loans). Do I need to wait three days to dispurse because of taking the residence? Or because it is a business transaction the recission doesn't come into play here.
08/06/2001
What compliance regulations apply to a loan to purchase a primary residence secured by vacant land titled in a business name?
07/09/2001
With the new revisions to article 9 of the uniform commercial code, the county filings are eliminated. Do theexisting county filings need to be renewed going forward?
03/19/2001
Do you think we're entering into a dangerous period for lenders with the economy starting to show some bad signs? Anything we should be doing? Should we be less tolerant of late payments at this point?
03/19/2001
If we renew a consumer loan that has an auto as collateral and give the customer new money do we have to re-file our lien on the auto?
03/05/2001
Do you think we're entering into a dangerous period for lenders with the economy starting to show some bad signs? Anything we should be doing? Should we be less tolerant of late payments at this point?
03/05/2001
My question concerns the filing of a UCC1. We have had a UCC search performed by an attorney in a farmer's county of residence, which doesn't show anything outstanding other than our lien, but the farmer listed another lender as lienholder on some of his equipment on his financial statement. I think the other lender may have filed in the wrong county. UCC law states that a filing made in good faith in an improper place is effective against any person who has knowledge of the contents of such financing statement. Do you know of any court cases that address this issue?
03/05/2001
If we renew a consumer loan that has an auto as collateral and give the customer new money do we have to re-file our lien on the auto?