Most Popular Lending Content
Open End Mortgage w/o Being Identified As HELOC?
07/22/2013
Should an open end loan secured by equity in the borrower's primary residence be identified as a HELOC loan which a HELOC disclosure should be provided OR can it be considered just an open end mortgage without it being identified as a HELOC? I have a bank asking for the REG that says open end home equity loans result in HELOC forms.
Modifying Consumer Car Loan to Lower IR
07/22/2013
Is it permissible to modify a consumer car loan to a lower interest rate in return for a successful referral?
Maturity Date Change if Refi Car Loan?
07/22/2013
If you refinance a car loan does it change the maturity date?
Cease Interest Accrual When Sole Borrower Dies?
07/15/2013
When a sole borrower of a consumer loan dies, should loan interest accrual cease immediately?
Deceased Customer-Bring Loan to Current
07/15/2013
We were notified several months ago that a customer died. She had a checking account and a home equity loan with us, both singly owned. We have locked the checking account so no activity can occur on the account until we receive the proper paperwork from the PR of the estate. No payments have been made on the home equity since the death of the customer and now loan servicing wants to debit the checking account to bring the loan current and then to debit the account monthly for the payment. Is this permissible or advisable?