Most Popular Lending Content
FCRA, Joint Accounts, and Adverse Action
01/01/2003
by Mary Beth Guard, BOL Guru
Paying Off Construction Loans and the Right of Rescission
12/16/2002
We are financing a customer's real estate loan which will be paying off another institution. However, the loan we will be paying off is the initial construction loan for the home.Does rescission apply?
If a borrower leaves no forwarding address (but keeps the collateral vehicle), has he committed theft?
12/16/2002
If borrower who has pledged a vehicle as collateral leaves the state with the vehicle and doesn't leave a forwarding address or phone number, can this action be reported as a theft?
Refinancing, Government Information, and Reg B
12/16/2002
A loan customer applied for a $5,000 loan to be secured by second mortgage his dwelling (our bank has the first mortgage). The loan officer did not complete the Govt. information section of the application. Upon review, the actual loan made was a refinance of the borrower's principal dwelling plus the new funds of $5,000. Do we need to collect the govt. information required by Reg B?
USA PATRIOT Act, Safe Deposit Policy, and the Deputy
12/02/2002
We are updating our Safe Deposit policy to reflect the USA PATRIOT Act. I would like to know what you think the procedures for a deputy should be as far as verification of the identification. Should we treat a deputy the same way we would handle adding a signature to an account?