Most Popular Lending Content
When Insurance Is Not Offered
12/15/2003
Our company does not offer credit life and disability insurance. Our note and disclosure print out with the insurance boxes showing the customer does not want the insurances. because we do not offer insurance. Do we still need to have the customer sign something showing a denial of the insurance? I say no we do not but another lender disagrees. Help!
Renewing Principal and Interest
12/15/2003
When you are renewing a consumer loan, I have always thought you were breaking some rule or regulation if you renewed both the principal and interest into the renewal. Because you would be collecting interest on interest. I was just told that is not "against the law", but it is just something you don't make a habit of doing. Please clarify for me.
Cisneros on CRA
12/01/2003
Henry Cisneros was the keynote speaker at PCI's annual CRA and Fair Lending Colloquium. He observed that the private sector can do much more than the government to cause change.
ROR on a Construction Loan
12/01/2003
Does right of recission apply in rolling a construction loan on a personal residence to permanent financing, no new funds, no new note? I say no. But, if we are advancing additional funds, still under the same note, does ROR apply?
Fair Lending: Redlining In the 21st Century?
12/01/2003
Can redlining happen in the 21st Century? According to the National Fair Housing Alliance, the answer is a resounding yes. At PCI's annual CRA and Fair Lending Colloquium, Dr.