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What is Annual Percentage Rate (APR)? |
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APR is the actual finance charge for a loan, including points and loan fees in addition to the stated interest rate. |
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What is an automated underwriting system? |
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Automated underwriting is a computer system that reviews the characteristics of a loan application and gives a approval decision based on that review. |
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How does automated underwriting benefit me, the borrower, and does Pinnacle use automted underwriting? |
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Yes, Pinnacle uses automated underwriting on the majority of the loan we offer. There are several benefits to you the borrower.
1. Approval decision within minutes, not weeks.
2. Reduced documentation requirements.
3. Lower cost in many cases.
4. Possible expanded lending guidelines for strong files. |
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Q
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Will all loan applications work through on e of the automated systems? |
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Most of the loan programs will, but not all programs are eligible and not all applicants are good candidates for Automated Underwriting. Due to our experience with automated underwriting our Loan Officers can usually identify the applications that we need to process the traditional way. |
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What is ONB Bank & Trust Co Privacy Policy? |
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Privacy Notice
ONB Bank & Trust Co collects non-public information about you from the following sources:
Information we receive from you on applications or other forms;
Information about your transactions with us or others; and
Information we receive from a consumer-reporting agency.
We do not disclose any non-public personal information about you to anyone, except as permitted by law.
If you decide to close your account(s) or become an inactive customer, we adhere to the privacy policies and practices as described in this notice.
We restrict access to your personal and account information to those employees who need to know that information to provide products and services to you. We maintain physical, electronic, and procedural safeguards that comply with federal standards to guard your non-public personal information.
Your confidence in us is important and we want you to know that your personal and account information is safe. If you have any questions or concerns, please contact us.
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