Most Popular Lending Content
Pricing Loans Based On Credit Scores
03/03/2003
We are considering using a customers credit score to price their loan. (The credit scores we use come from the Credit Bureau.) With the theory that the lower the score the more risk involved. An example would be, New Auto Loan, credit score over 670, rate would be 7.49%; credit score between 620-670, rate 7.99%; and credit score less than 620, rate 8.49%. My question is are we OK pricing our consumer loans like this? Any pitfalls, reg violations?
Is a loan application always required?
03/03/2003
Are there any situations in which a loan application would not be required either by bank policy or regulation?
Homeownership Counseling & Commercial Loans Secured By Primary Residence
03/03/2003
Does the revival of the homeownership counseling requirement apply to commercial/business purpose loans that are secured by the borrower's primary residence?
Disclosures: Changing Terms On A Consumer Loan
03/03/2003
When doing a Change in Terms on a consumer loan, do you have to provide new disclosures to only skip a payment, whether the payment be monthly, quarterly, etc? If you have a term note and you are extending it for any time, whether it be for a few months or for a year, do you have to provide disclosures?? Also, are we required to send a notice or disclosures when adding fees to a loan, such as UCC continuation, etc?
Data Collection: It's an Idea Past Its Prime
03/01/2003
The Federal Reserve has spoken. Monitoring data may only be collected under controlled circumstances and for purposes of self-analysis.