Most Popular Lending Content
Maximum Late Fee for Delinquent Loans
09/02/2003
I am the internal auditor at our bank and am currently reviewing lending operations. I am seeking to determine if there are any regulations or statutes that limit or prescribe amounts that can be charged borrowers as late fees for delinquent loan payments.
Bad Auto Loans: What's the average age of the auto?
09/02/2003
I am trying to find out some information on the average age of an automobile when the loan goes bad. Do you know where I can find some statistics on repossessions? I want to extend the age of an used auto that we will loan on. Currently, we only make a loan on autos up to 5 years old. I would like to loan on autos up to 8 years old.
Indirect Loans and Fair Lending Concerns
09/02/2003
The bank I work for has a huge dealer loan portfolio and works directly with a large number of dealers. We recently rolled out a "Preapproved Program" in which dealers are allowed to pre-approve loans on the bank's behalf using bank issued guidelines. They are also considering expanding the pre-approved program to include our mortgage broker relationships. I have been searching for articles that discuss indirect loans and fair lending concerns and cannot locate any. Can you recommend any resources I can use to develop a management presentation that outlines the "fair lending concerns" associated with these activities? In addition, is there a checklist any where that can be used as review outline of fair lending issues/concerns to consider as management continues to develop new and/or more competitive loan programs?
A HELOC for a Living Trust?
09/02/2003
Realizing that a Revocable Living Trust is not a natural person; and right to rescind doesn't apply, can the Trustee of the Trust apply for an equity line of credit for the Trust?
OCC Preempts Georgia Law
09/01/2003
The OCC has published its conclusion that national banks are not subject to the Georgia Fair Lending Act (GFLA"). The GFLA contains strong measures designed to prevent predatory lending.