03/01/2004
In the late 1970's, the District of Columbia was not a pretty picture. Huge areas that had been burned during the riots of the 1960's remained boarded up. Housing projects were failures.
03/01/2004
FDIC has again issued guidance on steps institutions may take to help rebuild areas affected by severe storms. FIL-57-2004. These issuances come out with predictable regularity after bad storms.
02/23/2004
Is a signature necessary on a UCC-1 filing if we have obtained the borrower's signature on the loan for that particular item? Someone had informed us that it was not necessary.
02/23/2004
How many days do we have to release collateral on consumer loans (i.e. vehicle titles - deed of trust)?
02/23/2004
Do we need to give an Equal Credit Opportunity Act Notice to the borrower for an unsecured personal loan application?
02/23/2004
Is it a requirement to any regulation that the customer sign on their loan documents that they decline credit life insurance? We give the required notice at application that any insurance sold isn't covered by FDIC, but I'm just wondering about if a customer doesn't want the insurance.
02/23/2004
Situation: husband and wife submit a joint loan application. Husband's credit is fine, wife has poor credit. The loan is unacceptable "as is", however, if the wife is removed from the application, the husband qualifies perfectly on his own. Should the original loan application be denied and start a new application from scratch, or does this qualify as a denial/counteroffer?
02/23/2004
Is a loan to a mobile home dealer for an individual mobile home reportable under HMDA?
02/23/2004
Although we have no formal Preapproval program, we do have mortgage loan officers that will provide commitment letters to an applicant if requested. Does this qualify as a Preapproval?
02/23/2004
If an individual or sole proprietorship obtains a business loan and has no gross annual revenue on the business venture, should the income from the owner's employment at another entity be reported for the revenue amount if it is what was used in making the credit decision?