10/18/2020
Please explain the precautions which should be used when issuing a transferable letter of credit.
06/11/2017
What are some common credit exceptions that banks track with ticklers?
12/04/2016
Should we use a spreadsheet or software to track exceptions?
11/13/2016
Are automated ticklers worth the money?
07/02/2012
We have a member at our credit union that wishes to increase their home equity line of credit in order to purchase a rental property. The line of credit is on their primary residence, and would remain so. Would this be considered a commercial loan (and therefore require an originator with commercial lending authority), where the purpose would be to provide rental income? Or would it not, considering the actual collateral of the loan is the member's primary residence.
07/05/2010
We are doing a letter of credit loan that is cross-collateralized with the client's real estate loan. Do we need to order a new flood certification for this new loan?
01/16/2006
We are writing a letter of credit for a bank customer, who will use it for business purposes. The L/C is secured by a 2nd lien on the customer's residence. Are L/Cs CRA reportable, or should this L/C be included in our HMDA LAR? It is unlikely that the customer will ever draw against the L/C, but should we report the total credit available as the amount 'originated'?
11/04/2002
If a commercial loan customer had a letter of credit for $1 million as Note 1 and additional funds were approved, would you be required to draft an entirely new Note 2, or simply due an amendment to Note 1?
04/25/2002
Letter of Credit Refusal Notice Defects Lead to Liability
INADEQUATE L/C NOTICE OF REFUSAL RESULTS IN $1.2 MILLION JUDGMENT
