Most Popular Lending Content
Common solutions for commercial loan imaging
07/16/2023
What systems do financial institutions rely on for commercial loan imaging?
Selling Requirements for Repos
07/16/2023
My bank is now selling our repossessed vehicles. The vehicles are listed on our website and we probvide contact information for questions or to arrange a test drive. Is there specific information we must include in the website listing for each vehicle? For example, should we indicate that the listed price does not include tax, title and registration fees? Should each listing include the VIN? Or are these things relevant only to dealers?
HMDA- Home Purchased Not Collateral
07/16/2023
For a HMDA loan where a borrower is using their own residence as collateral to purchase a home for someone else, is it still a purchase if the borrower has no ownership of the purchased home?
Upping Force Placed Policy Procedure
07/16/2023
A flood policy expired on a loan that had deferred principal due to a COVID Deferral program. The customer didn't renew their policy and force placement of coverage was implemented, notices went out on time and the force placement happened on day 46. The problem came one week prior to the renewal of the force placed policy, when evaluating to renew, it was discovered that the number used to calculate coverage last year was incorrect. The principal used was a much smaller amount which is the one agreed on the COVID deferral, but not the real one. Since the policy is a forced placed policy, and regulation doesn't require a new set of notices, we only send one courtesy letter advising the client of the imminent force placed renewal. My counterparts think that we should restart the letters since we will renew the policy for a higher amount but I don't agree with that assessment. What do you think?
Source for lending activity in low- to -moderate income communities
07/16/2023
How can I find out what the lending activity is in LMI communities?