Most Popular Lending Content
BSA/CIP Issues - Lending to Corporations
07/24/2006
I'm having a slight issue regarding BSA/CIP with our loan officers. I'm wondering what other banks may be doing in specific cases. Such as, if the loan is with a corporation, do you identify the corporation and the principals (not as actually responsible for the loan, just as say the president or owner)? What if the president is signing as a guarantor and what if the loan is with an LLC? Of course, with a partnership or as individuals you would identify each person.
Determining the Rate Spread for 50 Year Loans
07/24/2006
We just started doing 50 year loan terms and the problem I'm running into is with the Rate Spread calculator on the FFIEC page, it only goes up to 40 years. What is the correct way to determine the rate spread for these loans?
Document a Mortgage Loan File
07/24/2006
How should we document a mortgage loan file when we allow the customer to have a lower rate due to LTV or some other compensating factor? Where can I find some guidance on this?
Amount Used to Calculate the Points and Fees Cap
07/24/2006
A borrower is purchasing a home for $100,000 and they obtain a loan for 100% financing. They pay the $5,000 in closing costs at the closing and finance the $100,000. What amount is used to calculate the points and fees cap?
Reduced Interest Rate for Active Duty Members
07/24/2006
Can active duty members who are deployed to Iraq get a reduction in their interest rate due to their new obligations?