Most Popular Lending Content
Cross-Collateralization and Flood – What you need to know to stay covered.
02/25/2024
We are making a loan to a business customer to purchase a new apartment building. The apartment building is not located in a flood zone. The loan approval requires the cross collateralization of two additional properties owned by the borrower. Do I need to obtain flood determination on these properties?
Resolving exceptions
02/18/2024
What is involved with “resolving” an exception?
Bank president signs on a non-profit account that just became overdrawn. Does Reg O apply?
02/18/2024
Our bank president is a signer on a local non-profit’s checking account. That non-profit just bounced a check – does Reg O come into play here? Can we pay the OD and waive the fee?
Multiple Buildings – Multiple Flood Zones
02/18/2024
We have a commercial loan on farmland with 12 outbuildings and a dwelling. Only one of the buildings (a small barn) is located in a flood zone that requires insurance. The loan amount is $500,000 and the appraiser valued this building at $70,000. Because only a small percentage of the secured collateral is in a flood zone, is flood insurance still required?
Favoring applications from selected sources
02/18/2024
Would it be considered an issue if we “favor” the loan applications that are sent to us from one real estate agency over another if they just send us more of them?