Most Popular Lending Content
LLC & LLP Loan Documentation
05/22/2006
What documents are required for our loan files when we do a loan for a Limited Liability Company or a Limited Liability Partnership? Are these considered corporations? Do you have a check list to go by?
Fee Limitations on Force-Placed Flood Insurance
05/22/2006
Are there limits on the amount a bank can charge a borrower for force-placed flood insurance? The Reg seems to leave it open, in that it says banks may charge the cost of premiums and fees incurred in purchasing the insurance.
Reg O - Credit Card Extensions of $15,000 or Less
05/22/2006
It is my understanding that under Reg O all credit card extensions to insiders $15,000 or less, are not considered an extension of credit under Reg O. Is that correct?
Outside Vendor Paying for Customer Referrals
05/22/2006
We refer customers to an outside vendor for Merchant Services. The company we deal with has created an incentive program for these referrals. They have submitted one of our employees a check in the amount of $50 for a referral that resulted in a sale. I have read and understand the RESPA implications in regards to referrals in the mortgage lending area, but what about the Deposit side of the bank? Do we allow the employee to accept the check?
Do We Need to Re-disclose?
05/15/2006
When we provide disclosure statements which state that finance charges were included in the proceeds, and the customer decides to pay them up front, do we need to re-disclose? This is on a variable rate construction loan to build a primary residence.