10/08/2012
If we are modifying a HELOC and increasing the credit limit do we have ROR?
09/10/2012
Are initial PMI disclosures required on non-owner occupied purchase transactions?
08/20/2012
We use a cross collateralization-cross default clause in all commercial loans. If collateral includes 1-4 family residences, in a refinance, is the loan HMDA reportable?
06/25/2012
Is it permitted to use someone else's savings or CD account (borrower isn't a co-owner) for collateral on a loan?
05/28/2012
One non-revolving line of credit - 13 real properties taken as collateral, all SFR's, all purchases - all non-owner occupied. Which address would be used to report under HMDA?
05/21/2012
We are a small community bank and have a loan opportunity across state lines. We have never loaned outside our lending radius. We were wondering if the borrower is in one state and we are in another, do we use the note for the other state and not our state?
05/07/2012
I have a question regarding correct filing requirements for perfecting a security interest. The company is incorporated in Delaware and they are registered in Virginia (not domesticated). Our collateral is not real estate and is not farm/timber related collateral. Do we file in both Delaware and Virginia?
04/30/2012
I have a question regarding correct filing requirements for perfecting a security interest. The company is incorporated in Delaware and they are registered in Virginia (not domesticated). Our collateral is not real estate and is not farm/timber related collateral. Do we file in both Delaware and Virginia?
03/19/2012
When we take a second mortgage, we send a letter to the first mortgage holder advising them of our second mortgage, asking them to verify the first mortgage balance and to refrain from extending any further credit or to make any further loans to this borrower secured by the same RE. We rarely receive the letters back confirming the balance. First of all, do we protect our lien in any way by sending the letter and keeping a copy showing we sent it? Would it be prudent to track until we receive these back?
02/20/2012
Taking a Wealth Mgmt Account as collateral, would you use a Commercial Pledge Agreement and/or a Control Agreement and Acknowledgement of Security Interest as Collateral?