I'm doing a loan to a Guardianship. A minor is who the guardianship was created for. What type of documentation is/should be required in order to ascertain if the Guardian has the power to borrower funds?
Can we require a borrower to open a deposit account with our institution as a condition for approving their loan request?
We have a loan with two applicants. Only the primary is being considered the borrower and would sign the note. The second person is only for income purposes. For HMDA, do I report the combined income since that is what we used to evaluate the loan or only the primary's? The applicants have since withdrawn the application.
Under the 2018 HMDA rule, does a manufactured home community need to have actual manufactured homes securing the loan?
I am a new commercial lender and I am struggling to discover the best ways to prospect for new clients. I usually make cold calls to businesses that I do a little bit of research on and it mostly goes no where. What are things I can do and people I can form relationships with that would cultivate more leads?
What is my best source to locate the exact disclosures and agreements that lending customers must be given and or signed to be in compliance?
How do banks commonly work through paper backlogs?
We offer a Christmas extension where the customer pays the month's interest to defer the payment. Can we charge a fee in addition to the interest to defer the payment?
We made a car loan on Friday evening. The customer came back on Saturday morning before the loan was put on the books and said they decided against the car. They brought back the money order that was made out to the dealership. My question is: Do we actually have to put the loan on the books and then do a payoff ? Or can we treat it as withdrawn ?
Loan Terms, Interest Rate: disclose up to two or three decimal places...rate is 5.30%; can it be disclosed as 5.3% or must it be 5.30% (two places)? We have seen some software disclosing as 5.3%.