Most Popular Lending Content
COMPLIANCE CALENDAR
04/01/2003
APRIL
Using a Portion of a Town as your CRA Assessment Area
03/24/2003
We recently opened a new branch and must add the area to our defined lending area (assessment area). We live in a rural area and deal with BNA's. Can we use the BNA #'s to define this new area or must we use a whole town? Presently our CRA policy has towns and the BNA's listed. The new area borders on a very large town with various BNA #'s. We do not really want to include the whole town because we know we can not be competitive since most of the town is over banked. We are hoping to just list the surrounding BNA's.
Securing A Loan With A Modular Home As Collateral
03/17/2003
I am taking a modular home for loan collateral. This modular home is located in a manufactured home community. What do I need to do to secure this loan?
Business Loans, Oral Denials, and Notice Requirements
03/17/2003
A customer requested a loan to purchase commercial real estate. He has had problems with getting a clear title to the property. We offered verbally to make the loan but with a different piece of real estate as collateral. The customer refuses to counter our offer verbally. Must we send the customer a notice of action taken on the counter offer and on our denial of the original application?
Preliminary disclosures: When do you start counting the days?
03/17/2003
Preliminary disclosures: When do you start counting the days? Is the day you receive the application consider day 1 or does the time begin the day after you receive the application? For example if I received a completed application on 2/18/03 do preliminary disclosures have to be given on 02/20/03 or do I have until 02/21/03?