Most Popular Lending Content
Applications by Phone - Information Collection
08/18/2003
When taking an application over the phone, how should the gov't monitoring information be handled? Usually when taking a application over the phone, we also send the application out for signatures. Should this information then be filled out by the customer when signing? We have seen some varying information regarding this, so please be specific on how this should be handled.
Taking Delinquent Loan Payments From A CD
08/18/2003
Can we withdraw 2 payments from a customer's CD if they are delinquent on their loan?
Special Financing for Flood Victims
08/18/2003
This question would pertain to compliance, marketing and lending. Our Bank would like to offer special financing for our flood victims in our area. I need direction, as far as, being compliant.
Is new information required on every application?
08/18/2003
We do not always get a new written application with each request for credit, esp. with our investors. If the required information (income, race and sex) was collected on a previous transaction, can we rely on that information? If so, does it ever expire? I mean I know ones income can fluctuate, but ones race and sex seldom do.
Declined Applications & RESPA Disclosures
08/18/2003
Are RESPA disclosure required within three business days if we decline the application within the three day period and mail the declination letter?