11/13/2002
11/04/2002
Two Questions 1) I'm interested in any discussion and or procedures in place to underwrite consumer loans when applicant does not have a Social Security # however does have a TIN (Tax Identification Number)? 2) Is there anyway to determine if a TIN # is a valid number?
10/21/2002
The Loan Department at my bank wants to implement a new fee for customers changing collateral, i.e., vehicles on an existing loan. Evidently, they have a few customers who buy and sell vehicles quite often and instead of doing a new loan, the bank simply changes the collateral securing such loans. If this is done for all customers who change collateral, do we still have a problem? Are we required to do new disclosures?
10/17/2002
09/02/2002
What is the proper procedure to follow in regards to rewriting an auto loan due to the security being held as collateral for that loan being withheld by member/customer. We have contacted the member/customer on numerous occasions in regard to this matter.
09/01/2002
- The lowest possible Social Security Number (SSN), 001-01-0001, was actually issued to Grace D. Owen of Concord, N.H. She was the first applicant from New Hampshire.
08/12/2002
How often should you send a Notice of Security Interest to a buyer of farm products in a state that does not have central filing for farm products? As we are surrounded by states that are not EFS states, we send Notice of Security Interest or Direct Notifications to feedlots, but we're not sure if continued notification is annual or 18 months or something else
08/05/2002
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.
08/01/2002
HUD has published a proposal to make significant changes to the Good Faith Estimate that lenders issue within three days of taking an application. HUD calls this a "simplification" of the GFE.
07/15/2002
I noted on your Roadmap that you indicated a transaction subject to RA9, with security interested perfected under old A9, perfected by filing, in the correct state, with the correct filing, should be continued prior to the normal lapse date by an initial financing statement. I was under the impression that a correctly filed security interest subject to a UCC1 filing under old A9 that meets all the requirements of RA9 should be continued by virtue of a UCC-3 continuation within the window period prior to the normal lapse date, not by an initial filing statement. Please clarify the need for an initial filing statement. Up to this point, I had understood that the initial filing statement was the means to maintain your lien position at the same time you were "correcting" or bringing into compliance with RA9 a filing not meeting the requirements of RA9, but for which you had been perfected under prior A9.