What can traditional banks learn from alternative lenders?
How do banks start serving small and medium-sized enterprises again?
The bank has a commercial non-owner occupied property located in a flood zone. The borrower has a $125,000 flood insurance policy, but has a $25,000 deductible. Is there any regulatory guidance, or requirements as to minimum deductibles for flood insurance?
Is there a legal requirement to send original notes marked "paid" on loans paid in full back to customers for loans secured by non-real estate? I understand vehicle titles, etc., should be returned, but does the note need to be returned for unsecured credit, CD credit and vehicle loans?
Are financial institutions prohibited from offering specific types of loans (i.e.mobile home loans)? Should loans which are acceptable and not acceptable be documented in the bank's loan policy, along with the procedure for any exceptions?
We receive applications for consumer credit (unsecured, auto, etc.) that we decline. As part of that process we obtain with the application a tri-merged credit report at a cost of $20 to the bank. When we decline these applications we don't receive reimbursement of the $20 fee. Can we charge this $20 at application, before obtaining a CBR and before giving a decision on the loan?
I'm doing a loan to a Guardianship. A minor is who the guardianship was created for. What type of documentation is/should be required in order to ascertain if the Guardian has the power to borrower funds?
Can we require a borrower to open a deposit account with our institution as a condition for approving their loan request?
We have a loan with two applicants. Only the primary is being considered the borrower and would sign the note. The second person is only for income purposes. For HMDA, do I report the combined income since that is what we used to evaluate the loan or only the primary's? The applicants have since withdrawn the application.
Under the 2018 HMDA rule, does a manufactured home community need to have actual manufactured homes securing the loan?