Overall Survey Results:


Compliance Anchor 4/24/2020 Polls


1 How are lenders documenting any
balloon payment resulting from a modification?
 
Answer
0%100%
Number of
Responses
Response
Ratio
We are explaining in the modification agreement that the loan may have a balloon payment at the end
   
7 36.8%
We are providing the borrower with an estimate of the balloon amount in the modification agreement
   
2 10.5%
We are providing a separate disclosure that addresses the balloon payment
 
0 0.0%
Not sure yet
   
3 15.7%
We are not addressing the balloon feature
   
5 26.3%
No Responses
   
210.5%
 Totals19100%

2 How are you handling the
stimulus credit/check, if the account is NSF, low balance, or inactive? . 
 
Answer
0%100%
Number of
Responses
Response
Ratio
We are not using the funds to offset fees
   
6 31.5%
We are using the funds to offset fees
   
6 31.5%
Not sure yet
   
6 31.5%
No Responses
   
15.2%
 Totals19100%

3Have you discussed with your core provider how overdrafts
will be handled when a stimulus payment is received?
 
Answer
0%100%
Number of
Responses
Response
Ratio
Yes - our CORE is able to credit the stimulus payment while retaining the overdrawn balance
   
1 5.2%
Yes - our Core can't credit the stimulus payment while retaining the overdrawn balance
   
5 26.3%
Yes, awaiting a response
   
3 15.7%
Not yet
   
8 42.1%
No Responses
   
210.5%
 Totals19100%

4 How will overdraft balances be handled when crediting
stimulus payments, if your core can't credit while retaining the overdraft
balance?
 
Answer
0%100%
Number of
Responses
Response
Ratio
Make short term loans to cover the overdraft balance on a case-by-case basis
 
0 0.0%
Originate overdraft line of credit for the overdrawn balance
 
0 0.0%
Manually reverse out the stimulus payment to preserve the overdraft balance
   
4 21.0%
Overdrawn amount will have to be drafted from the stimulus payment
   
5 26.3%
Some other method
   
3 15.7%
Unsure
   
4 21.0%
No Responses
   
315.7%
 Totals19100%

5Is there a way to get a quick analysis on the PPP loans
originated for CRA and Fair Lending purposes?
 
Answer
0%100%
Number of
Responses
Response
Ratio
Yes - we have a third party that can provide this
 
0 0.0%
Yes - we have an internal analysis tool
   
5 26.3%
No
   
5 26.3%
Not sure
   
7 36.8%
No Responses
   
210.5%
 Totals19100%