Most Popular Lending Content
Adding handling fee when force placing insurance
09/02/2003
When we force place homeowner's insurance and debit the balance of the loan, can we include a handling fee to be retained by the bank?
Trusts & TIL Requirements -- John M. Floyd and Associates
09/02/2003
We made a loan to two individuals using property that is their primary residence. The property is titled in the name of a Trust. The individuals signed the note as borrowers and the Mortgage as Trustees for the Trust. Our loan document program did not automatically prepare the ROR.We did prepare the ROR for the individuals. We assumed TIL fell into place as the purpose of the loan was consumer purposes, the Borrowers are natural persons, using primary residence as collateral, but titled in the Trust name. In your opinion are we in compliance? We feel that we are.
Adverse Consequences from Late Adverse Action Notices
09/02/2003
We have just discovered that one of our loan officers has turn down applications on his desk since January 2003, what would be the proper way to handle this, is there any additional information that should be included in the letter since it is past the 30 day period to send out the letter. I think he has around 7 applications, is there anyway not to have a violation from the auditors.
OCC Preempts Georgia Law
09/01/2003
The OCC has published its conclusion that national banks are not subject to the Georgia Fair Lending Act (GFLA"). The GFLA contains strong measures designed to prevent predatory lending.
HMDA & Multi-family Dwellings
08/18/2003
Isa 2-story townhouse building considered 1-4 family or multifamily for the purpose of HMDA?