Publications Archive

MONTGOMERY, Ala., Feb. 5, 2021 — The Alabama Legislature began its 2021 Regular Session at noon on Tuesday. Opening day normally starts with camaraderie between colleagues and ends with the pomp of the State of the State Address. Yet thanks to COVID-19, the State ...Read More

Q: Our residential loan department is originating loans which are investment properties/non-owner occupied.  Would the bank be required to report the rate spread for HMDA purposes? A: If the bank has determined that the loan is not subject to Reg. Z because it is ...Read More

Q: We have an applicant who is doing a cash-out refinancing. They stated they will use the funds for a purchase of another dwelling, but it is at an unknown, future date.  Would this still make it a “Home Purchase” loan for HMDA purposes? ...Read More

Q: If the bank is escrowing for flood insurance is there a regulatory requirement to also escrow for real estate taxes or can the bank waive it? A: The federal regulations only require you to escrow for taxes and hazard insurance if the loan ...Read More

By Elizabeth Brusa, Chris Hawkins, and Alex Dugan, Bradley On Dec. 9, Congressional Democrats, including Elizabeth Warren (D-Mass.) and Jerrold Nadler (D-N.Y.), proposed sweeping legislation that would overhaul consumer bankruptcy law. The proposed changes, if adopted, generally would make it easier for consumers to ...Read More

by Mag Bickford and Chase Stoecker In the time of Coronavirus, with many municipalities implementing restrictions on business and individual activity, banks may currently allow employees to work remotely to the greatest extent possible. However, given the nature of the business, many bank managers ...Read More

Question: Bank A has a loan that is paying off a dwelling with funds from a new dwelling secured loan. The old and new loans are not secured by the same dwelling, but they are both to the same borrower. Would this be reported ...Read More