Most Popular Lending Content
Loan Document Preparation Fee Issues
03/03/2003
Our bank is considering implementing a loan document preparation fee. Other than making sure these fees are disclosed as a part of the finance charge, are there any other pitfalls or disclosure issues we need to be aware of and address? We would charge the fee on new originations only.
Pricing Loans Based On Credit Scores
03/03/2003
We are considering using a customers credit score to price their loan. (The credit scores we use come from the Credit Bureau.) With the theory that the lower the score the more risk involved. An example would be, New Auto Loan, credit score over 670, rate would be 7.49%; credit score between 620-670, rate 7.99%; and credit score less than 620, rate 8.49%. My question is are we OK pricing our consumer loans like this? Any pitfalls, reg violations?
Is a loan application always required?
03/03/2003
Are there any situations in which a loan application would not be required either by bank policy or regulation?
Homeownership Counseling & Commercial Loans Secured By Primary Residence
03/03/2003
Does the revival of the homeownership counseling requirement apply to commercial/business purpose loans that are secured by the borrower's primary residence?
Community Banks Outperform In Services To Underserved
03/01/2003
Several studies by the Woodstock Institute underscore an important role community development banks play in the financial institutions industry: serving the "underserved."