We have a customer who passed away. The customer was the sole owner of two corporations. The first corporation is a real estate holding company. There is a loan and DDA to this entity. The loan payment is auto-debited from the DDA. There is a second DDA to the other entity, also a corporation, which is to the operating company. Can we continue to pull the payments from the DDA to keep the loan current until the estate is settled and the loan paid off?
We include the Equal Housing Lender logo in all our home loan ads. Are we also required to include the “Equal Opportunity Lender” logo?
Reg Z covers individual consumer use for credit cards plus a few sections which are for business use, one of which is for unauthorized use if the business has been issued 10 or more cards. What is the rule and/or regulatory expectation on how to handle legitimate billing error claims (i.e., charged the wrong amount) from business card accounts? And, are there common business practices used in this scenario such as something parallel to the individual consumer rule in TILA, 1026.13?
If the buyer is being charged by the attorney to prepare the purchase contract, would we reflect that in Section C or Section H? Also, would the fee description have "Title" in front of it?
Are we required to disclose on a consumer payment deferral agreement that deferring a payment will lead to paying additional interest over the life of the loan and a larger final payment?