Most Popular Lending Content
Rescission on Renewed & Increased Amount
12/06/2004
I have asked several people this question and have not received the same answer, nor a clearly defined answer. If we lend a customer $60,000 for a home purchase, and five years and $10,000 in principal reductions later, they want to refinance and borrow $60,000 again and use the $10,000 for improvements, does rescission apply on the $10,000 since it is cash out, or does it not apply since they are borrowing the original amount? There is some confusion over refinancing and paid down amounts with rescission.
FACT Act requires records release for I.D. theft victims - Mary Beth Guard
12/01/2004
FACT Act requires records release for I.D. theft victims
Answer by Mary Beth Guard, BOL Guru
Guru BIOS
Fair Lending Remedies: Your Program's Benchmarks
12/01/2004
Fair lending enforcement actions lay out the actions needed to correct a problem that has been identified.
Free Credit Reports Available -- Depending Upon the State
12/01/2004
by Mary Beth Guard
Consumers who live in any one of the following thirteen states may request a free annual credit report beginning December 1, 2004:
Lessons in Enforcement Actions: Predatory Lending
12/01/2004
Safety and soundness is an important element of avoiding predatory lending. Just look at the requirements in the FRB's consent order with Utah Bancshares and the Bank of Ephraim.