Most Popular Lending Content
Counteroffers and Denials on Dealer Apps
01/05/2004
Counteroffers and the need for a denial, as concerns dealer applications, have us in a quandary and we're getting differing opinions from regulators. The question is: if we counteroffer (through the dealer) and then another financial instituion ultimately makes the loan, do we need to send the counteroffer/denial to that applicant? Section 202.9(g) states: When an application is made on behalf of an applicant to more than one creditor and the applicant expressly accepts or uses credit by one of the creditors, notification of action taken by any of the others is not required. That begs another question - what if you deny and other bank approves?
Can We Take A Qualified Annuity As Collateral? -- John M. Floyd & Associates
01/05/2004
Can a qualified annuity be used for collateral on a loan?
Early TIL Disclosures on Refinance
01/05/2004
It appears it is not necessary to do the Early TIL disclosures on a 1-4 family residential refinance even with new money, but only at closing. I know Early TIL disclosures are required on Purchase and with permanent lender on construction loans. Is this correct?
FACTA and Credit Scores
01/01/2004
Over the past decade, there has been much discussion about credit scores, what they mean and how they are used.
Preemption: OCC vs. States
01/01/2004
Consumer advocates use all tools available to them to achieve protections for consumers. Often those tools include state legislatures.