Most Popular Lending Content
Collecting Govt Monitoring Info (Not HMDA Bank)
01/07/2013
Our Bank is not a HMDA reporting Bank. Do we have to collect Government Monitoring Information if we do a loan and file a mortgage on 40 acres that has a home located on the 40 acres?
Notification of Action Taken-Adverse Action 30 Day
01/07/2013
I have a question regarding Notification of action taken. Is the 30 days required to notify a borrower of adverse action counted from the actual application date or when an application is complete (such as when the appraisal comes back and is the value is not sufficient)?
Escrow on All of Mortgages (Principle Residence)
01/07/2013
Our bank has taken the position to just escrow on all of our mortgage loans, principal residence. This is not really what we are required to do, is it?
Asking for Relationship b/w Co-Applicants
01/07/2013
Is it permissible for a lender to ask for the relationship between co-applicants on a joint credit application when evaluating their credit worthiness? In addition is it considered unlawful to give more favorable consideration to a home owner versus a person or people that rent when making a loan decision?
Limitations on Internal Auditor w/ Other Jobs
01/07/2013
What are the limitations on an Internal Auditor as far as holding other positions? Can an Internal Auditor be a Loan Officer and on Loan Committee and a senior officer of the bank?