Most Popular Lending Content
ROR on a Construction Loan
12/01/2003
Does right of recission apply in rolling a construction loan on a personal residence to permanent financing, no new funds, no new note? I say no. But, if we are advancing additional funds, still under the same note, does ROR apply?
Fair Lending: Redlining In the 21st Century?
12/01/2003
Can redlining happen in the 21st Century? According to the National Fair Housing Alliance, the answer is a resounding yes. At PCI's annual CRA and Fair Lending Colloquium, Dr.
Fee for Verifying Tax Records
12/01/2003
Recently our bank began verifying tax records and the company being used charges a fee. This fee is paid to a third party and the bank does not retain any portion of the fee. It does not apply to customers whose income is verifiable by W-2 records but does apply to most of our other customers. The question is, should this $19.00 fee be considered as a finance charge under Reg. Z?
Disclosures Timing on Phone and Mail Apps
11/17/2003
Disclosures must be signed and dated within 3 days of application. Does this apply if someone applies by mail of by phone?
Pledging a Jointly Owned CD as Collateral
11/17/2003
When a Joint CD is used as a collateral on a loan must both parties pledge the collateral or is the one borrowing the money the only one necessary? If a loan is secured by a CD the has a POD on it must the POD pledge the collateral also for the loan?