Most Popular Lending Content
Can we have a free drawing for a trip?
05/05/2003
We are starting an "over 50" club and offering that anyone who signs up for the trip is eligible to win a free trip through a drawing - I believe this is ok, because it is tied to "deposits" rather than a lending product? Do you see any problem?
Limits on Consumer Loan Fees?
05/05/2003
We currently charge a service charge on every consumer loan in the amount of $50.00. The consumer loan manager wants to increase this fee to $75.00. It seems to me that I remember something about this fee having to be limited to $50.00.
Using a CD to Offset a Delinquent Note
05/05/2003
If we use a Certificate of Deposit for an offset on a delinquent note, should we charge the early withdrawal penalty and credit the accrued interest?
Pulling Credit Report Without Customer's Signature
05/05/2003
Is it acceptable to pull credit from an application faxed by a Manufactured Home Dealer that does not have the customer's signature on the application? (phone in applications or they have signed another Bank's Application or the Dealer's Application.)
What is the TIL Definition Of A Credit Sale?
05/05/2003
I need the definition of credit sale under Truth in Lending. A piece of ORE property is sold to a customer for x dollars, he pays us with proceeds of a loan he took out secured by a vehicle. Would we need the sales contract disclosure using the 5th box or not? We are not financing the property since the collateral is the vehicle?