Most Popular Lending Content
Required Signatures On TIL?
05/05/2003
I am refinancing a first mortgage for a customer. The customer is married and the loan is to only one party. The spouse is going to sign the mortgage and right of rescission. I am being told by the purchaser of the loan that the spouse also has to sign the truth in lending. Is that correct?
Can we have a free drawing for a trip?
05/05/2003
We are starting an "over 50" club and offering that anyone who signs up for the trip is eligible to win a free trip through a drawing - I believe this is ok, because it is tied to "deposits" rather than a lending product? Do you see any problem?
Limits on Consumer Loan Fees?
05/05/2003
We currently charge a service charge on every consumer loan in the amount of $50.00. The consumer loan manager wants to increase this fee to $75.00. It seems to me that I remember something about this fee having to be limited to $50.00.
Using a CD to Offset a Delinquent Note
05/05/2003
If we use a Certificate of Deposit for an offset on a delinquent note, should we charge the early withdrawal penalty and credit the accrued interest?
Pulling Credit Report Without Customer's Signature
05/05/2003
Is it acceptable to pull credit from an application faxed by a Manufactured Home Dealer that does not have the customer's signature on the application? (phone in applications or they have signed another Bank's Application or the Dealer's Application.)