Most Popular Lending Content
Flood Insurance – Do we have enough?
03/17/2024
Our loan amount is $1,000,000. According to the hazard policy, the replacement cost value of the building is $1,500,000. We only have $500,000 coverage on the building and our internal auditor has indicated we need more coverage. Is this true?
We just booked a $525,000 loan to a Director’s law firm. Did we violate Reg O?
03/17/2024
We have a Director who (together with his wife) shares ownership of a law firm. I just learned that we booked a $525,000 loan for that law firm. The loan has a rate and terms comparable to other loans. Is this a problem for Reg O?
Who should own NMLS administration – HR or Compliance?
03/17/2024
Who should manage the NMLS registration for our Mortgage Loan Originators (MLOs)? Is that an HR function, or should compliance do it?
Our EVP just bounced a $1,200 check. What do we do?
03/10/2024
I work in operations, and our Executive Vice President just showed up on the daily NSF report! He has overdrawn his personal checking account by $1,200. What do we do?! Can we pay it or must we return it, and must we charge him our normal fee?
Contents Coverage – When is it needed?
03/10/2024
Is flood insurance on the contents of a property required if the property is located in a SFHA?