Most Popular Lending Content
Spousal Signatures On A Business Loan
04/21/2003
We are renewing a commercial loan secured by real estate owned 100% by the business. The business is owned 100% by Mr. Business Owner. In the past, the loan was individually (not jointly )guaranteed by Mr. Business Owner and his wife, Mrs. Business Owner. We have no financials due to the value of the property and loan/value ratio.We don't know what % ownership the wife has in any of Mr. Business Owner's assets. Do you think there is any value in keeping Mrs. Business Owner as a guarantor? How would I justify or explain to the loan review committee we really don't need her as a guarantor?
Lending Policies Using Credit Scoring
04/21/2003
Do you have suggestions for resources in developing bank lending policies which utilize credit scoring on consumer loans?
Flood Insurance Waiver
04/21/2003
I'm needing to know what the best way is to document the file for a waiver of flood insurance on agricultural land (with a barn on it). Is flood insurance really required?
Can we require a customer to maintain terrorism insurance on collateral?
04/21/2003
Can we require a customer to maintain terrorism insurance on collateral?
Sharing Information From Co-applicants With Co-applicants
04/21/2003
When you have several individuals (4 or 5) who are all co-applicants, may we discuss all applicant's financial information with the primary applicant since all applicants will be personally liable. For instance, the financial information we are lacking to make a credit decision or why we cannot approve the loan request because of insufficient combined income to service all of the applicant's debts?