Most Popular Lending Content
My bank is adding an in-house credit card program. What do I do?!
06/09/2024
My boss told me today our bank is seriously considering doing an in-house credit card program. HELP! I don’t even know where to begin. What should I expect and where can I learn more?
Is this loan covered by the Military Lending Act?
06/09/2024
Do I need to have an MLA search for a consumer real estate loan with no structures?
What is the SAR amount to report?
06/02/2024
We had a joint mortgage loan application (an elderly husband/wife). The wife did not want husband to know she was buying a house as he is in a nursing facility and she feared he would want to move into the new home. The husband's income was needed for the loan. The bank would not accept the POA provided for him for the loan purpose as it was not prepared by an attorney, and the bank knew the back story. The loan was denied and a SAR is being filed. If not for the subterfuge, the loan would have been approved and the loan qualified for the First Time Home Buyer Grant of $20,000 which would have been used as money down. Should the grant money be included in the total amount reported on the SAR?
Mortgage Investor Requirements
06/02/2024
Are there any requirements at either the federal or state level that would require an investor that has purchased a pool of loans to be licensed? Would the answer also depend on who is servicing the loans?
Can we advertise a credit card product as “fixed” if it has a fixed introductory rate?
06/02/2024
We have a credit card product that has an introductory “fixed” rate that changes after 12 months to a variable rate APR. Management wants to really promote that fixed rate period, but I don’t think we can use the word “fixed”, can we?