Our bank is planning a "skipapayment" program for our loan customers around tax time. What are the compliance concerns involved in this?
Can I get a clarification on the filing requirements under the new Article 9 for a continuation. I was under the impression that if a continuation was filed PRIOR to the July 1st effective date that it would be filed in accordance with the current Article 9 rules and thatit would be effective. Basically, do we have to file an "in lieu of" financing statement prior to the effective date or do we file the same way we have in the past?
Where would I locate information regarding "Right to Offset or set Off" Information such as what types of accounts can the off set be applied against and any other information.
Regarding RESPA: I need to know what is the "proper" way to base fees on mortgage loans so that we do not violate any laws. Is it proper to base "points" (we are the mortgage broker in these cases) on the amount of the loan request? I think it is, instead of based on the interest rate. For example: Up to $150,000------1% $150,000 to $300,000------.75%Over $300,000-------.50% I think that is a safer way to price, rather than basing the fee on the interest rate (higher rate = higher fee)