Most Popular Lending Content
Calculating Flood Insurance
02/17/2003
We have a customer who purchased property located in the Flood Plain. A Church was built in the middle of the property. A survey of the property has been prepared and the customer is in the process of filing a application for Loan to take this structure out. There are other structures on the property if the Church structure is taken out, do we just need to get flood insurance for the value of the other structures? If their value is less than our loan amount, how much coverage is required? The value of the other structures or the loan amount?
Exceptions to Rewriting, Extending, or Re-Aging Consumer Loans
02/17/2003
Consumer loans cannot be re-aged, extended, or rewritten more than 2 times over 60 months. How can a bank dealing with this issue if a loan has had 2 extensions in the last 60 months and the borrower experiences difficulties such as medical emergencies, job changes, etc.?
Is Martin Luther King's birthday considered a business day for right of rescission purposes?
02/17/2003
Is Martin Luther King's birthday considered a business day for right of rescission purposes?
Taking Deductions From Accounts Receiving Social Security Payments
02/17/2003
Customer has a checking account with Direct Deposit of monthly Social Security and has requested our $500 overdraft protection product.Can the minimum monthly payment be automatically deducted from the checking account even though it contains Social Security deposits?
Pursuing Deficiency Judgment Even After Partial Satisfaction Of The Obligation
02/03/2003
As a secured party, if I collect partial satisfaction of an obligation, may I still pursue a deficiency judgment?