Can you pull a credit report for a commercial purpose loan before you have a signed financial statement or loan application?
Does a TDR status follow the loan until maturity? If the TDR is acquired in a bank acquisition, does the TDR status continue?
We use SBA for commercial loans and have rated them as a high-risk vendor due to the information that is shared, when we asked for a SOC1, SOC2, SSAE 16 from our rep, they stated no other bank has ever asked for this. In my Vendor Program we say we need annually a 3rd party audit, is this an exception because it is the federal government? If not, how do I obtain a copy?
If we are lending on a commercial property that is a strip mall (3 attached stores) and the strip mall is in a flood zone, do we need to obtain insurance on each store unit or just $500,000 on the entire structure which is owned by one entity?
What ways can one secure a loan in retail banking especially for a micro-finance bank?
Our bank is getting into more C&I lending. We are hiring lenders who specialize in this. Any suggestions as to where we can obtain guidance on best practices for SERVICING these types of loans; i.e. documentation peculiarities; UCC management, etc.?
We are a very small bank with 2 loan officers and the CEO. The loan officers deal with consumer residential loan requests as well as all commercial requests. My question is: can they receive incentive bonus compensation on Commercial loans only? i.e. a small percentage of the loan fee collected on commercial loans only.
If we rewrite a commercial loan with no new money, and in the process add an additional borrower, does this fall under the definition of a renewal, refinance, or restructure (under part 365)?
With the exception of compliance with statement of spousal intent to borrow, are there best practice reasons to require business loan applications from business borrowers?
If a person is a grantor of collateral on a loan and is not otherwise a maker, co-maker or guarantor, would pulling a credit report on the grantor be considered permissible or would this be a violation of FCRAs Permissible Purpose rule as it does not relate to the consumer applying for credit?