Most Popular Lending Content
Changing Late Fee on Existing Loans
05/02/2005
Our institution wants to increase the late fee on loans from $10.00 to $25.00 (all loans). I know we may change the fee for the new loans but what about the existing loans on our books? Is it possible to change the late fee to existing loans with the required notice advising customers of the change?
HOEPA Rate Terms and Rounding
05/02/2005
When using the rate spreadsheet for possible HOEPA loans and the loan term is not exactly 1,2,3 years, say 52 months, should we use 4 years or 5 years, what are the rules for rounding?
Home Improvement Loan Secured by Vacant Lot
05/02/2005
For HMDA reporting, when a home improvement loan is secured by a vacant lot, would we use the lien position of the lot, or consider it unsecured?
Commercial Lender, Consumer Purpose Loan
05/02/2005
We have a customer who wants to build a second home. The customer doesn't want to go through all the hassles of a construction loan. They do quality for a revolving line of credit. The collateral to be used will be multiple investment properties. The loan officer is wanting to do a business loan. "Consumer purpose" keeps sticking in my mind and disclosures should be required, right?
Reg B - Financing Insurance Premiums as Loans
05/02/2005
A wholly-owned subsidiary of our national bank finances insurance premiums for businesses. The majority of the business borrowers have annual revenues under $1 million. The financing is structured as loans with finance charges and typical terms of nine months. We are trying to determine whether or not Reg B applies to this kind of lending. This type of financing is not mentioned in the "limited exceptions" section of Reg B. Any guidance or experience would be appreciated.