Vendor Guru Q&A - Lending

Sharing Exception Reports with Lenders

Building a Tickler Spreadsheet

Latest Lending - Loan Application Topics

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?

Common loan exceptions

05/14/2017

What are some common loan exceptions that banks deal with?

Reg B Requirements Apply to Renew Existing?

05/14/2017

Do Reg B requirements apply when taking a "new" application to renew an existing loan? If the existing customer has already been identified through CIP and we have address/contact/employment information on file already, does Reg B require that we read the standard application disclosures again at time of renewal and is it a regulatory requirement to update driver license expiration, as well as get all new income information, etc. ? I know we need income information for ability to repay and my understanding is that once they go through the CIP process, we don't have to identify them with each subsequent transaction but in general what are the regulatory requirements on a renewal application?

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Fair Lending: The Effects Test is Alive and Well

When it comes to fair lending, there are a multitude of ways to measure whether discrimination occurred. There is the obvious issue of intent to discriminate.

Supervision or Enforcement?

There was a time when a group of studious attorneys and examiners sat around and debated and then drafted regulations.

Small-reporter HMDA: Wait and see

07/15/2018

How should we report if a loan is a single-family property, or has 2 to 4 units, or is a multifamily property?

An ARM loans impact on TRID disclosures

07/15/2018

Should we be disclosing both the AP Table and AIR Table on an ARM transaction?

Transfer of Service on a Fannie Mae Loan

07/15/2018

We are in the middle of completing a transfer of servicing on a Fannie Mae loan in our portfolio. Fannie Mae owns this loan, and we are just transferring the servicing and the escrow account that we hold. Since we are closing the escrow account here, it's my understanding that we need to send the Escrow Closing Notice required in 1026.20. I am getting some push back on this from Fannie Mae - saying that they have never heard of this and they do not agree due to the model language in the letter. I agree that it seems confusing - but we do not transfer mortgages ever so I want to make sure that we have everything correct. Can you provide any clarity on this situation? Should we be sending the Escrow Account Closing Letter?

Joint Application-One of Applicants is a Minor

07/15/2018

If the bank receives a joint application but one of the joint applicants is a minor, can the bank deny the loan based on age of one individual (the minor) without facing possible discrimination? Under ECOA an institution may treat credit applicants different when under the age of majority based on state laws. But what if it is joint and the other applicant is of age?

Renewal w/Vacant Land as Collateral-Evaluation

07/15/2018

Two years ago we granted a new loan and took a first mortgage on a piece of vacant land as collateral. The loan is now going through a renewal. While completing the evaluation, we learned that the borrower; using his own cash, built a home on the property that’s encumbered. The way our mortgage reads, we have interest in ... all existing or subsequently erected or affixed buildings, improvements, and fixtures... When we complete the valuation report, should the value of the home be included in the report and furthermore, if so, should the report be mailed to the borrower under Regulation B?

Latest Lending - Loan Application Topics

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