Breaking Archive

Question: When is the deadline to provide a PMI notice of cancellation/termination? Answer: Assuming this is subject to the Homeowners Protection Act, the bank has 30 days after the PMI relating to a residential mortgage transaction is canceled or terminated to send out a ...Read More

House Bill 419, the Financial Institution Excise Tax Reform Act, was amended and favorably reported by the House Ways & Means – General Fund Committee on Wednesday. Thanks to the good work of the bill’s sponsor, Rep. Kyle South (R-Fayette), committee members had no ...Read More

by Fob James, Burr & Forman On Jan. 23, TechCrunch reported that more than 24 million mortgage and banking documents were left exposed on the internet in an unprotected environment for approximately two weeks. Ascension, which provides data analytics and document management services to ...Read More

by Jenny McCain, Maynard Cooper & Gale As your bank grows either organically or through a merger/acquisition, it’s important to make sure the internal operations, overall organizational structure and “governance” considerations grow with it. Banking organizations that have historically operated in the $100-$200 million ...Read More

Major issues are still on tap in the fledging 2019 Regular Session, with more controversial topics popping up seemingly every week. As legislators began the third week of the session, issues such as repealing “Common Core,” legalizing medical marijuana, and adopting one of two ...Read More

Question: On a business loan where we have personal guarantees, do we have to check MLA on the guarantees, since they are acting as individuals?   Answer: No, because a business loan is not a covered transaction under the MLA. The MLA applies to ...Read More

So far, the 2019 Regular Session has suffered from a start-and-stop schedule.  After the first legislative day on March 5, the session went into a two-week hiatus so that legislators could meet to discuss – and ultimately pass – Gov. Kay Ivey’s “Rebuild Alabama” ...Read More