Most Popular Lending Content
Abundance of Caution Collateral & Flood Insurance
05/16/2005
The bank is making a loan and taking property (with building) as an abundance of caution. This property is located in a flood zone. Is flood insurance required when our collateral is taken as an abundance of caution?
Which HOEPA rate do I use?
05/16/2005
Re: HOEPA -- Our bank does 1 yr and 2 yr balloon loans, usually amortized up to 20 years. I know I use the Treasury constant maturities interest rate but am unsure which term (the balloon term or amortization maturity).
Flood Zones, But Coverage Is Not Available
05/02/2005
What if property on a loan has improvements and they are in a flood zone, but flood insurance is not available, how can we make this loan and what do we need to do special?
HMDA and the Mobile Home Park
05/02/2005
Would a refinance or purchase of a Mobile Home Park, where we do not take any of the Mobile Homes as collateral, just the land, be HMDA reportable?
Changing Late Fee on Existing Loans
05/02/2005
Our institution wants to increase the late fee on loans from $10.00 to $25.00 (all loans). I know we may change the fee for the new loans but what about the existing loans on our books? Is it possible to change the late fee to existing loans with the required notice advising customers of the change?