Most Popular Lending Content
Procedures for Force Placing Auto Insurance
08/12/2018
What are the procedures for force placing auto insurance on a customer, who's auto policy has lapsed? I have found procedures for hazard and flood but wondering if there are different procedures for vehicles.
Home Used for Business Line of Credit-HMDA Report?
08/12/2018
Is the following scenario HMDA reportable? The borrower owns his primary residence free and clear. He is going to use this home for a business line of credit. The purpose of the business line of credit will be for him to purchase homes, repair or remodel and resell. (He is flipping them.) We will be advancing funds and depositing to his checking account and we will have no interest in the homes that he flips.
New Business Loan App for the New Borrower?
08/12/2018
I have an entity assuming the debt of another to purchase a residential property. Since the loan will be secured by a first lien on a residential dwelling, will I need a new business loan application for the new borrower? Our original business loan application specifies the original borrower.
When can we use a scan of an ID?
08/12/2018
We are offering loans via a mobile app. Can we accept scans of IDs as that is a good way to help verify we are engaged with our customer, by having them send us a picture of their ID using a smartphone.
Reg Z Living Trusts-Apply to Irrevocable Trusts?
08/12/2018
I'm aware of the 2015 CFPB commentary in Reg. Z stating that living trusts should be treated as natural persons. Would this apply to irrevocable trusts (where the trustors are deceased)? Is there case law or commentary supporting (or not) that irrevocable trusts are estates and provided the organizational exemption under Reg. Z? Thank you.
