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?
When a Commercial Department is presented with an opportunity to provide a term sheet for a commercial loan - prior to receiving a loan application - is this request to be considered a loan application? Does HMDA reportable issue apply if the bank never received a loan application and there is no loan decision?
When a commercial department is presented with an opportunity to provide a term sheet for a commercial loan - prior to receiving a loan application - is this request to be considered a loan application? Does a HMDA-reportable issue apply if the bank never received a loan application and there is no loan decision?
We have a member at our credit union that wishes to increase their home equity line of credit in order to purchase a rental property. The line of credit is on their primary residence, and would remain so. Would this be considered a commercial loan (and therefore require an originator with commercial lending authority), where the purpose would be to provide rental income? Or would it not, considering the actual collateral of the loan is the member's primary residence.