I've been searching Govregs.com and I don't find anything specific to non-consumer.
We lock our rate at application. The DocMagic form does not have that option. The DocMagic vendor is recommending that we use a Lock-In-Agreement instead, using the date of the application as the Lock In Date. My concern is that we are not advising the applicant when the rate will be locked (prior to locking). Maybe it is just semantics. Does anyone else in NY, lock the rate at agreement and have Doc Magic as their loan document vendor? Do you use the Lock In Agreement?
I look forward to hearing your thoughts.
Does anyone have commercial loan modification and or collections procedures/policies that they would be willing to share? Or any points you could share as to best practices? Looking for info on commercial/business purpose loans at this time.
Whitepaper: How Digital Lending Solutions for SMBs Can Increase Efficiency and Maximize Profitability
To learn more, visit our newly-launched website: http://www.akoubacredit.com
Do you consider evaluations fees as a deferred loan fee for FASB 91?
LIBOR has been used for over three decades as the global standard benchmark. This will soon be changing and financial institutions will need to adjust their loans to the new benchmark, the Secured Overnight Financing Rate (SOFR). To help you prepare, check out our white paper for a background and comparison of each rate, solutions to the challenges ahead and more. Read White Paper: http://go.pcbb.com/2019-SOFR-and-LIBOR-WP-Request.html
Not getting responses in another group I asked, so hoping this might reach more people! Thanks so much.
Do you report related interest loans on your Call Report, and if so, do you only report the amount of % owned by the insider or do you report the full loan balance?
1a. Which figure should be used for in-house Reg O reports?
Do you track/report loans that are excluded, such as overdraft lines? Interested in the pros/cons of doing this.
Are loans to related interests of an Executive Officer excluded from the $100,000 limit, and only subject to the 215.4 limitations, as long as the Executive Officer does not personally guarantee the loan?
If an insider’s loan is grandfathered in due to timing of insider election, do you still obtain a demand clause or do you just notate the dates and reason for exclusion?
Does anyone a simple example of an ALSR or administrative loan status report?
Good day All,
I'm searching for a sample loan program and policy, specifically formulated for subprime borrowers.
Any assistance will be greatly appreciated.
Thank you in advance!