Question of the Week

Question of the Week Archive

  • QUESTION: In understanding the nature and purpose of customer relationships, are financial institutions required to develop and document customer risk profiles for self evident products or customer type (e.g., a safe deposit box)?

  • QUESTION: If a bank originates a 2nd mtg for a property in a SFHA & the 1st lien holder does not have sufficient flood coverage for both liens & does not escrow for flood insurance, does the 2nd lien holder have to escrow for the additional insurance?

  • QUESTION: Are new disclosures required to be provided under the Military Lending Act for a renewal of a covered transaction?

  • QUESTION: For HMDA purposes, may a bank rely on an oral or written statement regarding the use of covered loan proceeds?

  • QUESTION: Is a depositor permitted to have multiple savings accounts and use them to exceed the transfer and withdrawal limitations?

  • QUESTION: What is the OFAC 50% rule?

  • QUESTION: If a lender does not offer escrow account services to residential borrowers, do loans subject to integrated mortgage disclosures have to disclose property taxes, insurance and assessments on page 1 of the LE or CD?

  • QUESTION: The bank’s CEO received tickets to a major league baseball game from a friend. Is this a violation of bank bribery act?

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