Fees

Default Interest: Best Practices, Guidelines, and Thresholds

By |2023-11-03T16:33:32-05:00August 23rd, 2023|Ethics, Featured, Fees, Foreclosure, Loan Terms|0 Comments

Consider these protocols for when to charge default interest and how to develop a default interest policy. Many lenders have provisions in their loan contracts to charge a higher interest rate if a borrower defaults on their loan. The default interest remains in effect until the loan is again current. When determining the rate, it’s [...]

By |2023-11-03T16:33:32-05:00August 23rd, 2023|Ethics, Featured, Fees, Foreclosure, Loan Terms|0 Comments

Navigating Borrower Background Checks

By |2023-11-03T08:58:24-05:00July 9th, 2023|Ethics, Fees, Loan Terms|0 Comments

By understanding and addressing background check best practices, lenders can navigate the process effectively, make informed lending decisions, and maintain compliance with applicable laws. Background checks can be an important tool in business-purpose lending, providing lenders with critical information to make informed decisions about a borrower’s creditworthiness and character. These checks help lenders evaluate various [...]

By |2023-11-03T08:58:24-05:00July 9th, 2023|Ethics, Fees, Loan Terms|0 Comments

A Review of Changes to AAPL’s Code of Ethics

By |2023-11-03T08:57:20-05:00November 9th, 2022|Discrimination, Ethics, Fees|0 Comments

Gender identity discrimination, fee transparency, and prompt communications were topics for recent discussion and change. Private lenders’ unique position within the larger finance industry has allowed for greater nimbleness, flexibility, and a crucial level of self-agency in operations and strategy. To maintain that advantageous—but not assured—differentiation among borrowers, investors, and industry partners, private lenders must [...]

By |2023-11-03T08:57:20-05:00November 9th, 2022|Discrimination, Ethics, Fees|0 Comments

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