Most Popular Lending Content
Costly flood insurance violations
09/15/2019
Can a flood civil money penalty cost six figures or more?
HELOC for Borrower w/PMI Insurance on Mortgage?
09/08/2019
Can a Home Equity Line of Credit be done for a borrower who has PMI insurance on their first mortgage?
Pulling Loan Payments from DDA
09/08/2019
We have a customer who passed away. The customer was the sole owner of two corporations. The first corporation is a real estate holding company. There is a loan and DDA to this entity. The loan payment is auto-debited from the DDA. There is a second DDA to the other entity, also a corporation, which is to the operating company. Can we continue to pull the payments from the DDA to keep the loan current until the estate is settled and the loan paid off?
Bungalow Colony Considered HMDA Reportable?
09/08/2019
Given all other HMDA reporting criteria being met, would a bungalow colony be considered HMDA reportable?
ECOA-FCRA Disclosures: “Check the 1st Box”
09/08/2019
For banks that provide combined ECOA-FCRA disclosures, is it standard practice to “Check the 1st Box” and provide FCRA credit score information if the decline reason is not based on the consumer report, but some other factor? (i.e. insufficient collateral, product not offered, out of lending area) Do other banks do this? We understand that we do NOT have to “Check the 1st box” and provide credit score information if it was NOT used in making the adverse decision, but what would be the risk to provide this information in the above cases?
