Most Popular Lending Content
Using An IRA As Loan Collateral
02/17/2003
Can an IRA be used as collateral for a loan?
Flood, Farms, and Financing
02/17/2003
If the bank has a mortgage on a farm, and the mortgage states "That it secures future loans to the borrower"-how do the flood determination rules apply? For example, if the borrower comes in and takes out a 60-day single-pay note. Do we have to do a new flood determination or check the accuracy of the existing flood determination we did when the mortgage was established?
Written Permission To Obtain Credit Report
02/17/2003
Is it required to have written permission to obtain a credit report on a potential borrower? If so, could you please tell me where I can find the information - what regulation?
Flood Insurance Requirements For Unoccupied Dwellings or Mobile Homes
02/17/2003
We are financing the purchase of land with a small cabin on it and taking as additional collateral a piece of property with a mobile home and pole barns on it. The properties are or will be owned by a partnership and will not be owner-occupied. It has been determined that the property with the mobile home and pole barns on it is in a flood zone. The mobile home is not in good condition. No one is living in it. In this case, would the borrower have to get flood insurance on the mobile home?
Pursuing Deficiency Judgment Even After Partial Satisfaction Of The Obligation
02/03/2003
As a secured party, if I collect partial satisfaction of an obligation, may I still pursue a deficiency judgment?