Vendor Guru Q&A - Lending

Latest Lending - FIRREA Topics

FIRREA Rules for LTVs on Commercial Real Estate

12/17/2012

The commercial loan officers at my bank have a general understanding of FIRREA however one among us believes that FIRREA may dictate LTVs on commercial real estate - in particular a vacant commercial lot. Is this true, If so, where can we find an explanation?

Reg Y - Forgoing the FIRREA Appraisal

07/21/2008

Under Regulation Y Sec 225.63(a)(2) there is an exception if a lien is taken in an abundance of caution. Would this include a lien taken on an existing home as additional collateral for a construction loan that will have a FIRREA appraisal on new construction, but is not adequate collateral so we are taking the existing home? Can we forgo the FIRREA appraisal on that collateral taken in an abundance of caution?

Review Appraisal - FIRREA Violation?

02/18/2008

If a review appraisal is completed by the same appraiser who did the original, is this a violation of FIRREA? Does the review appraisal have to be from a different apprasier?

FIRREA Business Loan Exemption

05/08/2006

FIRREA allows an exemption from a state licensed or state certified appraisal for business loans of $1M or less that are not dependent upon the sale of, or rental income generated from the collateral real estate as the primary source of repayment. A "business loan" is defined as an extension of credit to "any" corporation or other business entity. Would this exemption be applicable to a non-profit corporation (e.g., an incorporated church)?

Separating the Appraisal and Evaluation Functions - Mary Beth Guard

09/27/2004

Separating the Appraisal and Evaluation Functions
Answer by Mary Beth Guard, BOL Guru
Guru BIOS

HUD's Proposed Revisions To The GFE

08/01/2002

HUD has published a proposal to make significant changes to the Good Faith Estimate that lenders issue within three days of taking an application. HUD calls this a "simplification" of the GFE.

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Notice of a Change in Terms for Credit Cards

06/28/2020

Is there any standard format to send notice of a change in terms for credit cards?

Loan Portfolio Metrics

06/28/2020

What are loan portfolio metrics?

Additional Borrowers

06/28/2020

How many borrowers can apply using a single Uniform Residential Mortgage Loan Application?

ARM Notice After the Fact Circumstances

06/28/2020

We have a HELOC originated in 2008 that moved into the repayment phase in May 2018. The initial rate was WSJ prime and remains at WSJ prime (no margin) throughout the repayment phase. The loan has a interest floor of 3.75 percent so the rate has been set at that since May 2018. Since there is no set change date to enter in our system the CFPB ARM notice will not generate to give advance notice if the rate increases. Are we required to provide the ARM notice, and if so are these circumstances that allow the notice to go after the fact?

The Two Phases of Bank Document Management

06/21/2020

What is involved with customer and account document management?

Latest Lending - FIRREA Topics

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