Most Popular Lending Content
TIL Disclosures for Loans to Trust
09/15/2003
Is the grantor of a trust required to be given the Truth in Lending disclosures when a loan is made to a trust?
Is a W9 required for a commercial loan?
09/15/2003
Is a W9 required for a commercial loan? Some banks require it, others do not.
TIL Disclosure: Required Deposit & Demand Feature
09/15/2003
On a mortgage TruthInLending disclosure, there are two boxes to check that i am not sure about. One is the "REQUIRED DEPOSIT: The APR does not take into account your required deposit." The other box is "DEMAND FEATURE: This loan has a demand feature." Does the "required deposit" refer to the items deposited with the lenderthe escrow account. or does it refer to the downpayment on a purchase transaction? Does the "demand feature" refer to a balloon loan?
Written Notice for Changing Equity Line Terms
09/15/2003
We currently have a floor on our equity lines. Our senior lender would like to waive the floor for any customer (new or existing) that will set up an automatic debit from their checking account to make their monthly payment. Would we need to provide anything in writing regarding the new rate for our existing clients that opt to do this?
Rescission: Disbursing Funds Without Signature
09/15/2003
Right of Rescission: After the rescission period has expired, if the creditor is "reasonably satisfied" that the consumer has not rescinded, can the creditor disburse funds without customers signing the notice stating they are not rescinding the transaction?