Vendor Guru Q&A - Lending

Latest Lending - Loan Application Topics

Deadline for TRID's Loan Estimate

05/31/2020

Assume we have a real estate application with all six needed items received on the weekend when business is closed. We open only Monday - Friday but it could come in electronically. Is the deadline for TRID's loan estimate Wednesday or Thursday?

HMDA Rule: Increase w/ New Loan Estimate Issued

03/24/2019

Under current HMDA rules, if a borrower submits an application for one amount and then requests an increase and a new loan estimate is issued, do we report the original amount requested or the increased amount?

Deny Credit If Report Pulled Over 6 Months Ago?

12/31/2017

Can credit be denied based on a credit report pulled over 6 months ago or should a new report be pulled? (In this case, the credit requested 6 months ago was denied and now a new credit request has been received.)

Buy or Build: Transforming Commercial Credit Origination

12/10/2017

When considering new technology for credit origination, how can banks decide whether to build in-house or buy an existing technology?

Impact of Home Equity Lines of Credit in New Loan Originator Compensation Rules

12/10/2017

Are Home Equity Lines of Credit included in the new loan originator compensation rules? If so, can an employer incent a loan originator based on the amount drawn versus the line amount?

Starting budget for loan imaging software

12/03/2017

What is a ballpark budget for loan imaging software?

PDF 1003/URLA w/Demographic Info Addendum?

11/26/2017

I'm looking for a PDF fillable 1003/URLA with the 2018 Demographic Information Addendum attached with the old GMI section on page 4 being crossed out. We need it for our website. Are you aware of anywhere this is available?

Traditional vs Alternative Lending

11/12/2017

What can traditional banks learn from alternative lenders?

Competing in Small Business Lending

11/12/2017

How do banks start serving small and medium-sized enterprises again?

Are Offering Specific Types of Loans Prohibited?

10/08/2017

Are financial institutions prohibited from offering specific types of loans (i.e.mobile home loans)? Should loans which are acceptable and not acceptable be documented in the bank's loan policy, along with the procedure for any exceptions?

Premium Content View All

COMPLIANCE Q & A: Updated URLA?

Question: Our current Uniform Residential Loan Application (URLA) that is provided in our loan processing software has a revision date of 06/09 and is 5 pages.

COMPLIANCE Q&A: Invalid loan conditions

Question: Our Director’s Loan Committee recently approved a loan request for two individuals to purchase their primary residence contingent on certain conditions.

Benefits of Document Collection Software

07/05/2020

Why use document collection software?

Use of the Lender Information form

07/05/2020

Are we required to use the Lender Information Form?

Credit Card Promotion-Waive Annual Fee

07/05/2020

The bank is considering a credit card promotion for a period of 90 days that will waive the annual fee for the life of the credit card. A customer must apply for the credit card during this time frame to be eligible. It will not be advertised externally. Must the credit card application be altered or can we leave the annual fee on the app in case other customers take the application with them? What other compliance requirements exist for this type of promotion?

How to Report Purchase of 6 Properties on 1 Loan

07/05/2020

How do I report the purchase of 6 properties on one mortgage loan with a combination of 9 leased apartments plus 28 bedrooms with shared bathrooms that are rented weekly or monthly?

Notice of a Change in Terms for Credit Cards

06/28/2020

Is there any standard format to send notice of a change in terms for credit cards?

Latest Lending - Loan Application Topics

Pages

Pages

Pages

hot right now