Most Popular Lending Content
Loan denied based on guarantor.
04/21/2024
How would a commercial application denied based on the DTI of the guarantor be handled? In this case, the credit report of the guarantor was used to determine their debt level.
Is it OK to charge a monthly Returned Mail fee to customers with bad addresses?
04/17/2024
May we charge a monthly “Returned Mail” fee on our customers who have bad addresses that return mail as undeliverable?
Document expiration dates and collateral perfection
04/14/2024
Why are document expiration dates important for collateral perfection?
Is the NMLS ID # supposed to go on HELOC documents too?
04/14/2024
Does the NMLS ID# number need to be included on HELOC agreements and Deeds of Trust / Mortgages?
REMA Issues and Advertising
04/14/2024
If all of a lender's marketing is targeted outside the US, aside from marketing within its "claimed" assessment area, could the lender be subject to REMA redlining review? I've read guidance that implies marketing doesn't have to be a factor for a REMA redlining exam to be conducted... • "REMA...defines who and where you serve, and as such, is different from a defined Market Area..." • "Where the lender actually marketed and provided credit, and where it could reasonably be expected to have marketed and provided credit based on its distribution of loans and applications " • Redlining analysis will look at lending and level of services in majority-minority census tracts compared to peers, among other items.