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#336908 - 03/22/05 02:31 PM CRA Submission Info - Q300
COMPLIcated Offline
Diamond Poster
Joined: Mar 2003
Posts: 1,035
OK
I received four errors on my CRA submission that are all coded Q300 - "Average loan amount of small business loans originated > $250k not <= $1 million". What does this mean and what am I supposed to do about it?

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CRA
#336909 - 03/22/05 02:48 PM Re: CRA Submission Info - Q300
CRAatBOK Offline

Power Poster
Joined: Mar 2004
Posts: 6,172
Further South than I wanna be.
Nothing, it is just a red flag. If you are sure your numbers are correct then you sign off and go on.
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Life is not the way it's supposed to be. It's the way it is. The way you cope with it is what makes the difference.

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#336910 - 03/22/05 02:55 PM Re: CRA Submission Info - Q300
Bengals Fan Offline
Power Poster
Bengals Fan
Joined: Apr 2004
Posts: 8,990
Cincinnati, OH
Actually this means that somewhere in those geographies you have entered a "small business loan" with an origination amount greater than $1 million. You should remove these loans and resubmit.

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