Most Popular Lending Content
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?
Correcting an Improperly Recorded Mortgage
09/02/2003
Our Loan Auditor found that one of our mortgages was recorded as homestead property and it is not homestead property, do we need to re-record the mortgage?
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.
Applications by Phone - Information Collection
08/18/2003
When taking an application over the phone, how should the gov't monitoring information be handled? Usually when taking a application over the phone, we also send the application out for signatures. Should this information then be filled out by the customer when signing? We have seen some varying information regarding this, so please be specific on how this should be handled.