Most Popular Lending Content
Revised Article 9: Recent Issues
11/26/2001
by Sam Ott
Privacy For Agricultural Customers
11/12/2001
Credit Scoring, High Rates and FCRA
11/12/2001
Vehicle Loans & Estimated Mileage
11/05/2001
We have been experiencing some losses when we repo vehicles because of the high mileage on them. When we are looking at approving a loan applicaton secured by a vehicle, can we take into consideration the amount of miles the customer would put on the vehicle in a year by looking at their home address compared to their work address? And if high, require more of a down payment or less amortization period?
Late Payment Interest
11/05/2001
I have a question about late payment interest (not a late fee). Example: grace period 10 days payment due 01-01-01 payment paid 01-12-01 Would most lenders charge the regular interest due on the payment plus 11 days of extra "late" interest at the current interest rate of the loan? If they have a fee, say a set percentage of the loan payment, would most lender still charge the extra "late" interest too?