07/21/2024
In reviewing our Consumer Loan Application, I noticed there is no formal Reg B section in which the Borrower(s) indicate whether they are applying for individual credit or joint credit. In my prior employment, the applications always included a formal Reg B section. Is this formal section required?
09/18/2022
Do you need to document the credit file giving the reason if the application loan amount changed compared to the closing table amount, whether it is a consumer, commercial, or residential loan application?
05/29/2022
We are a community bank and keep all our loans in house. Must a tax return submitted by the borrower be signed to comply with lending regulations on consumer and commercial loans?
03/06/2022
Under Reg B notification requirements, when an applicant is advised their application is approved pending additional documentation, (i.e. bank statements, insurance policies, loan payoff information, etc.) is this considered an approval or incomplete application under Reg B?
03/06/2022
I saw a post on the BOL website from 2018 by David Dickinson titled "Applicant Re-Apply w/Co-Borrower: Counteroffer?" It was unclear to me whether the lender's requirement to add a co-borrower constitutes an "other term" as part of a "counteroffer" or whether the requirement to add a co-borrower requires the denial and written adverse action of the borrower and a new application by the borrower and co-borrower (i.e. is requiring a co borrower really a counter offer). I would appreciate any clarification on the issue.
02/13/2022
What is the HMDA purpose classification when refinancing a construction loan and converting it to permanent financing - purchase or refinance?
02/06/2022
When would a loan assistant interact with a customer?
09/12/2021
What types of commercial loan documents are commonly “imaged”?
04/25/2021
What does a loan assistant do?
04/04/2021
What does a loan producer do at the bank?