We have been asked to collateralize a loan with an independent insurance agents book of business. Since the insurance company owns those policies how do you perfect a book of business? I am looking at this as basically unsecured. Thoughts please.
I have a commercial loan request from a local labor union. As there will be no personal guarantors, what information can I ask for to ensure the local representatives have authority to borrow money? This union is part of an international union
What’s the best way to track exceptions by loan officer?
What are some common credit exceptions that banks track with ticklers?
I am on the LaserPro documentation system and located in PA .. we recently started to get a pre payment critical warning in regards to prepayment penalties not being able to be charged on a Commercial Loan secured by a 1-2 residential unit property. Is this true?
Can a commercial customer receive a Reg. Z statement for a commercial line of credit?
We made a loan in 2011 to a customer to purchase a property. The property had a residence and a commercial mechanics
garage with living quarters in it. At the time he bought this, he rented the house to his aunt and lived in the garage when he was in Missouri. He didn't reside here full time at that point. So we did this loan on our commercial side. We just found out his aunt has passed and he has been living full time in Mo. in the house. So knowing this, due to HOEPA or HPML etc ,are we required to move it to consumer side? Also where can I get further training on HOEPA and HMPL please?
Does a TDR status follow the loan until maturity? If the TDR is acquired in a bank acquisition, does the TDR status continue?
I keep getting requests from lenders wanting to do an unsecured business loan taking real estate as an abundance of caution. I am fairly new to the bank and I have told them on several occasions that we should not be doing this, but I am getting resistance and the lenders are trying to tell me that the bank has always done this. Can you tell me if there are any situations where it is acceptable to do this?
I am a new commercial lender and I am struggling to discover the best ways to prospect for new clients. I usually make cold calls to businesses that I do a little bit of research on and it mostly goes no where. What are things I can do and people I can form relationships with that would cultivate more leads?