Most Popular Lending Content
Guarantor Access To Borrower's Credit Scores
06/02/2003
Does a potential guarantor have a right to see the credit report or be told of negative items or credit scores for a potential borrower? Specifically, an existing customer of our bank sent in someone for a car loan. The existing customer offered to guaranty the loan. We ran a credit report on the potential borrower, and the credit scores were low and the report contained various collection items.
Affiliated Business Disclosure Situation
06/02/2003
If our Bank President owns the Bank as well as a real estate agency and an insurance agency, is an affiliated business relationship disclosure required for RESPA covered loans?
Calculating APR On Loan Renewal
06/02/2003
I have a consumer loan I am renewing. We are doing new loan documents. This loan is to pay off the old loan. On our disbursement we also need to get the accrued interest for approx 7 - 8 days (the new loan is closing 7-8 days after the old one matured) In figuring out the APR - would the accrued interest be a finance charge - or other charges of lender? It is not to prepay interest for the new loan - it is interest left over from the previous loan.
Laws and Regulations - What's the Difference?
06/01/2003
The current brouhaha over the RESPA servicing transfer notice brings to the front burner a common question: what is the difference between a law and a regulation. The corollary is: why do we care?
Building a CIP
06/01/2003
The rules are out and the initial shock wave is over. No more excuses. It is time to get serious about building a Customer Identification Program.
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