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Credit Union Signature Requirement for Payoff-Auto

09/02/2018

Currently the Credit Union requires a member to sign an authorization for payoff when we are posting insurance settlement checks for cars that are considered a total loss. (checks sent by insurance company) ​​Is there any regulation that states we have to have the authorization signed or as lienholder can we make the business decision to accept those checks and post them the same day?

Policy for Deceased Customer's Loans/Account

05/16/2011

We have a member who passed away last month and has a signature loan and a line of credit with us. Are we within our rights to place the funds in the account towards these loans?

Pledging a Jointly Owned CD as Collateral

11/17/2003

When a Joint CD is used as a collateral on a loan must both parties pledge the collateral or is the one borrowing the money the only one necessary? If a loan is secured by a CD the has a POD on it must the POD pledge the collateral also for the loan?

Pledging a Jointly Owned CD as Collateral

11/03/2003

When a Joint CD is used as a collateral on a loan must both parties pledge the collateral or is the one borrowing the money the only one necessary? If a loan is secured by a CD that has a POD on it must the POD pledge the collateral also for the loan?

Most Popular Lending Content

Is email receipt of the LE sufficient

01/19/2020

We mailed the borrower’s Loan Estimate and they emailed us that it was received, and they want to proceed with the loan. Can we act on this emailed notice?

MIL - Open-end and ODP Coverage

01/19/2020

The Military Lending Act does not specify if the Act applies to an open-ended Overdraft Protection line that is tied to a checking account or a closed-ended loan secured by the applicants’ deposit accounts such as a savings and/or certificate of deposit. Does the Rule apply to both consumer credit types?

Rate Spread for HMDA on a Construction-Permanent

01/19/2020

When reporting the rate spread for HMDA on a construction-permanent loan, should the rate spread for the construction phase be reported or the permanent phase, which will take place a year later?

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