23 HќќѠіђџȱ юћјђџ юѦ 2014 The American Bankers Association (through its subsidiary, the Corporation for American Banking) has endorsed services provided by Equias Alliance. Todd Andritsch is a registered representative of and securities are offered through ProEquities, Inc., a Registered Broker/Dealer, and member FINRA and SIPC Equias Alliance LLC is independent of ProEquities, Inc. www.equiasalliance.com Todd Andritsch tandritsch@equiasalliance.com 11416 Forest Knoll Circle Fishers, IN 46037 Tel: 317-517-5000 Set an Upward course for your Bank’s Bottom Line! Chart your own course by owning a Bank Owned Life Insurance plan. BOLI is an effective financing tool that has a 30 year track record of enhancing bottom lines. Equias Alliance provides: 8 Administration of BOLI and Executive & Director Nonqualified Benefit Plans 8 Risk Assessment Review of BOLI and Executive & Director Benefit Plans 8 Bank-Owned Life Insurance (BOLI) 8 Executive & Director Benefits Consulting ©2014 Equias Alliance 1 Pub. Law 111-203, July 21, 2010. 2 78 Fed. Reg. 10901 (Feb. 14, 2013). 3 78 Fed. Reg. 10695 (Feb. 14, 2013). 4 These statements are not required on HELOCs, open ended lines of credit, reverse mortgages or timeshare loans. Citation. 12 C.F.R. §1026.41(e). 5 12 C.F.R. §1026.41(d)(8). 6 12 C.F.R. §1026.41(e)(5). 7 12 C.F.R. §1024.39(b). 8 12 C.F.R §1024.41(a). 9 12 C.F.R. §1024.41(b)(2)(i)(B). 10 12 C.F.R. §1024.41(g). 11 12 C.F.R. §1024.41(c)(1). Once the servicer receives a complete application, it is prohibited from initiating a foreclosure action, until one of the following has occurred: % ȱȱęȱȱ ȱ that he or she does not qualify for any loss mitigation options; % The borrower has rejected all loss ȱȱěȱ¢ȱȱ servicer; or % A borrower fails to perform under a loss mitigation agreement.10 If a servicer receives a loss mitigation package after the foreclosure process has begun, but ȱȱřŝȱ¢ȱȱȱěȂȱ sale, the package must be reviewed within 30 days, and the foreclosure may not proceed until one of the three options described above has occurred. If the package is received ȱřŝȱ¢ȱȱȱěȂȱǰȱ the Final Rules do not require the servicer to review the application, ȱȱęȱȱȱ may require the review nonetheless.11 The Final Rules also created requirements with regard to ¢ěȱǰȱȱȱ hazard insurance, notices of error and requests for information. An implementation guide to the Final Rules is available at www. ęǯȦ¢Ȭ implementation/title-xiv. iAB Financial Bank, Fort Wayne, partnered with several area schools to participate in Teach Children to Save Day on April 11. Bank employees made presentations during the course of several weeks to reach nearly 1,000 children on topics, including: recognition and value of monetary denominations, safe places to keep money, the importance of tracking money earned and money spent, and ȱĚ ȱȱ¢ȱȱ¢ȱ to employee and from consumer to business. Teach Children to Save Day is sponsored annually by the American Bankers Association Education Foundation. FINANCIAL LITERACY DIGEST
RkJQdWJsaXNoZXIy MTg3NDExNQ==