Foreclosure

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

Are You Accidentally Originating to Foreclose?

By |2021-08-20T19:21:52-05:00May 24th, 2021|Ethics, Featured, Foreclosure|0 Comments

Consider these insights for being your borrowers’ watchdog—and building your reputation as an ethical lender. Originating to foreclosed on is also known in the lending business as “loan to own.”  Loan to own can be intentional, or it can be accidental. Regardless, it’s bad business. Intentional loan to own typically occurs because the asset in [...]

By |2021-08-20T19:21:52-05:00May 24th, 2021|Ethics, Featured, Foreclosure|0 Comments

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