04/29/2013
I've been asked to offer options to the Loan Operations Manager for a situation related to escrow. This started with the bank's purchase of a smaller institution a little over a year ago. This smaller institution was apparently not properly calculating escrow requirements. To add to the problem, last year they gave huge refunds to borrowers in error. Now, we have borrowers whose escrow accounts are deficient and they cannot make the new calculated loan payments. What is the best plan of action to get these borrowers back on track?
03/18/2013
What to do if an attorney is refusing to sign the backup withholding on a signature card on an IOTA account since the TAX ID is that of the Florida Bar Foundation?
02/25/2013
When we open a new account we generally ask the customer whether he/she is a U.S. citizen or not. Once we find out that they are not a U.S. citizen, how far do we have to go in determining their immigration status concerning legal alien/illegal alien/legal worker/illegal worker? For example: If the person is applying for a business account and from immigration documentation we see that they are currently not allowed to work, what is our responsibility?
02/18/2013
How's the best way to handle a request to change the primary owner of an interest-bearing account. Especially to ensure interest earned gets reported correctly. Or is it not advisable to do so?
02/18/2013
Can a limited liability company have A NOW account?
02/11/2013
Can a Partnership have a NOW Account? What if it's as Limited Liability Partnership? What Account Types cannot have a NOW Account?
02/11/2013
What support documents are sufficient to support a Sole Member LLC to use their social security number?
02/04/2013
I am a Client Service Rep opening & maintaining checking, savings & CDs. I have a joint account between two customers, Jack & John. John has power of attorney over Jack. John has signed a Relinquishment removing Jack from the accounts, leaving him owner. Is this proper allowing John to do this?
01/28/2013
If I receive a W9 - do I report the NRA like a normal W9 US citizen? Or do I leave them coded as a NRA and do not report?
01/28/2013
Closing out an IRA account early. The account has accrued interest. Does the institution have to pay the interest first and then levy the 10% withholding penalty or can they base it on the current balance prior to paying the accrued interest?