Most Popular Lending Content
Early Disclosures on Construction Loans
11/03/2003
Our most recent compliance review said we should be sending out early disclosures for RESPA and Reg Z on construction loans. We have been making construction loans for years and this has never come up before. We don't extend permanent financing approval until processing is complete. No one else in our market is doing these disclosures either. Help!
"Financed By" Signs
11/03/2003
On a commercial building site, we wish to place a sign stating: "Financed by (top) Bank Logo with Member FDIC(middle) and bank phone # (bottom)." I think this is generic enough to not trigger any problems for us, but would appreciate knowing if others have words of advice for these types of signs.
Pledging a Jointly Owned CD as Collateral
11/03/2003
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 that has a POD on it must the POD pledge the collateral also for the loan?
Bank in Dark Ages
11/03/2003
Believe it or not, we still hand type all promissory notes and all lending documentation in our bank. I have been trying to convince the boss to move to an automated system based upon the time issue, but now am going to try from a compliance issue. I need help with my side of the argument.
BSA Examinations
11/01/2003
The agencies are in the process of publishing new examination procedures for the new components of anti-money laundering programs generated by the USA PATRIOT Act.