Vendor Guru Q&A - Lending

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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.

Modifying Home Mortgage-Principal Reduction

09/23/2018

What are the rules for modifying a home mortgage loan to only lower a payment because the borrower made a significant principal reduction? He is not in foreclosure. Before TRID, we did modifications all of the time. Can you still do that? The rate and terms will stay the same.

"Life of Loan" Fee for Real Estate Tax Check

09/23/2018

Our state pays real estate taxes semi-annually. Can we charge a "life of loan" fee on consumer real estate loans for performing a real estate tax check? If we can charge such a fee, must it be incorporated into the loan origination fee (which we currently do not charge) or can it be a separate line item? If a separate line item, where does it get placed on the LE/CD?

Charging Fees for Credit Reports

09/23/2018

We are looking at charging fees for credit reports. We have never done this. How do we do this correctly? We are looking for any recommendations or guidance you can offer.

Providing Periodic Statements After HELOC Matures

09/23/2018

I have been researching an issue for my bank in regards to providing periodic statements after a HELOC matures. Are FIs required to provide periodic statements post maturity on HELOCs? The Promissory Notes clearly states that the entire loan balance (principal and interest) is due and payable at maturity. I don't see it necessary to continue to send monthly periodic statements and this has also added confusion to the client. I do not see that this is addressed within Reg Z. Am I looking in the wrong place?

Exempt Non-Depository Financial Institutions?

09/23/2018

Can mortgage lenders that are not banks or credit unions take advantage of the new partial exemptions?

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