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#1210931 - 07/01/09 08:04 PM Cash Collateral Loan Reviews
Little Miss BSA Offline
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Little Miss BSA
Joined: May 2007
Posts: 1,185
Miami
Good afternoon all -

I am in need of a procedure or process for performing reviews on the cash collateral loans (any loan secured by a CD)...can anyone help me please....
I would greatly appreciate any help you can offer...

Thanks smile
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#1211677 - 07/02/09 08:51 PM Re: Cash Collateral Loan Reviews Little Miss BSA
Jessesgirl Offline
Member
Joined: Nov 2008
Posts: 54
There's No Place Like Texas!
I pull a quarterly report of CD secured loans and then check by loan number to see if any of those loans are more than 30 days past due. If any are found, I contact the loan officer to see if they have been in contact with the customer and document my findings. It is important to follow-up within say 10 days.... I have yet to find anything SAR worthy from that report, but I never rule out that it is a possibility.
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#1211845 - 07/03/09 01:11 PM Re: Cash Collateral Loan Reviews Jessesgirl
Little Miss BSA Offline
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Little Miss BSA
Joined: May 2007
Posts: 1,185
Miami
Thanks Jessesgirl smile I was begining to worry when I saw no responses...

Do you look at the loan documentation or customer file at all to see if the stated loan purpose makes sense, or if the loan was made to or collateralized by an offshore entity, distribution of funds, unusual payment patterns, etc... These are all the questions I came up with when asking myself what exactly do I want to see or catch? Am I off base....
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#1211861 - 07/03/09 01:37 PM Re: Cash Collateral Loan Reviews Little Miss BSA
SARempress Offline
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Joined: Jul 2006
Posts: 37
Deep in the Heart of Texas
I receive a monthly report of cash secured loans that paid off early. I review the loan documentation and how the proceeds were used and repaid as well as taking a look at the customer's overall relationship/customer due diligence information.

Sounds like the questions you have come up with are similar to what I examine. smile

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#1211941 - 07/03/09 02:51 PM Re: Cash Collateral Loan Reviews SARempress
Little Miss BSA Offline
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Little Miss BSA
Joined: May 2007
Posts: 1,185
Miami
SAR - I too look at another report that shows any early redemed CDs and early paid off loans...as usual never ending monitoring all over the place smile So yeah it sounds like we're pretty much on the same page...nice to know that Thank you smile smile

Have a great weekend and a very happy and safe 4th smile
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#1212108 - 07/03/09 04:17 PM Re: Cash Collateral Loan Reviews Little Miss BSA
Jessesgirl Offline
Member
Joined: Nov 2008
Posts: 54
There's No Place Like Texas!
I also do a similar type review on CD secured loans with early payoffs. And while looking at possible defaults in the quarterly review of CD secured loans, I do a brief review of transactions and usually only probe further into the purpose, distribution, etc if transactions look questionable. Our loan compliance department looks at those other things for me during their weekly loan reviews. It really helps take the load off me since they have to review them anyways.... Have a great July 4th!!
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