Where can I find a copy of the exact information/wording that is to be placed on a consumer loan application that is also used for real estate-secured requests? Using the Internet for research, much of the info seems contradictory.
I have just been nominated compliance officer of a thrift at which I am a new employee (this is my 3rd week). I have 15 years previous banking experience in almost every department but never in compliance. Where should I start?
Can we quote loan rates for auto, mortgage, and commercial loans over the phone? Do they have to be the APR or can the rates we quote be the note rate? Can we quote rate and terms over the phone without long disclosures? The regs are pretty clear on advertising, but I am interested in call-in customers....
With the HMDA revision, I have read that the new definition of refinancing is a transaction in which a new obligation satisfies and replaces an existing obligation, where both the existing and the new loan are secured by a lien on a dwelling. However, in the revised reg., it says that for coverage purposes, a refinance is when the existing obligation is a home purchase loan and both the existing and the new obligation are secured by first liens on dwellings. For reporting purposes, both the existing and the new obligation are secured by liens on dwellings. What is the difference under the revised reg between coverage purposes and reporting purposes? What types of loans should be reported as refinances in the future?
I am starting a new position as a lending manager. I am rusty with the regs. Where could I go to get a printed version of the regs applicable to lending, and which ones would you recommend I read up on?
I am a commercial banker working for a thrift. I process builder loans (specs). The mortgage lenders want to process these as a "mortgage" loan. What written material can you give me to prove to them it is a commercial loan?
I'd like to know the retention period for lending documents and loan file data.
Do we need a right of recission for a mobile home loan? This mobile home is NOT in a mobile home park, but on REAL Property that is also used as collateral on the loan.
I need a complete copy of what Reg H says, is there a Web site that will give me details of each regulation or some other place I can look?
We have a couple reposessed vehicles and a couple of employees are interested in buying them from the bank. Is there any certain procedures or regs that we need to be aware of? They will be paying the price we are offering the vehicles to the public.