Most Popular Lending Content
Is there a regulation that requires a loan to be priced 2% above a CD rate (if using the CD as collateral)?
04/07/2003
What is the regulation that discusses the requirement that a loan must be priced 2% above a CD rate if using the CD as collateral? I assume this is a Federal regulation, correct? Can we make the loan rate 2% BELOW the CD or deposit account rate?
Requiring All Owners Of Jointly Held Accounts Used As Collateral To Sign The Security Agreement
04/07/2003
We have a debate going on in our bank and would like some advice on the best course of action. Some are advocating that whenever a CD or savings account is pledged as collateral that is joint with right of survivorship, all owners of the deposit account must execute the assignment/pledge. Others are saying this is not feasible. The UCC for joint accounts seems to indicate that any party on a joint account can pledge it as security on a loan and other parties do not have recourse against the creditor IF the proper assignment or pledge has been used as the security instrument. The language is, however, ambiguous. There are definitely benefits to obtaining all account owners' signatures but it presents difficulty in obtaining them also.
Collecting Monitoring Information During Phone Applications
04/07/2003
Do loan officers need to collect government monitoring info even if the application was taken via phone?
Does Truth In Lending apply when a consumer is purchasing a second home?
04/07/2003
Does Truth In Lending apply when a consumer is purchasing a second home? (i.e., beach house, lake house etc) that will not be their primary residence?
Reg Z: Bounce Protection v. Regulation Z
04/01/2003
Bounce protection programs - those products put forward to banks as a significant generator of fee income - have come under the regulator's umbrella of concern.