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#1393385 - 05/19/10 04:15 PM Problem Loan Review
Cale_N_Oats Offline
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Cale_N_Oats
Joined: Aug 2008
Posts: 742
Southern Illinois
Im doing an internal review of Substandard/Special mention loans between $50,000 and $250,000. I've never reviewed our problem loans before and was just wondering if anyone had any pointers they could give me? I think what i am going to do is just review it like a new credit and check for financials, proper documentation, lien perfection, loan grade, etc. Then I was going to look at what the LO has done to help work out this loan. And then comment on any further risks i could find. Is there anything I am missing?
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Audit
#1394960 - 05/21/10 11:51 PM Re: Problem Loan Review Cale_N_Oats
carteblanc Offline
Junior Member
Joined: Aug 2006
Posts: 27
Although it will depend on the scope of you audit, you could review the loss potential of each loan (such as FASB ASC 250-10, etc), adequacy and completeness of policies and procedures (non-accrual, impairment, loan grading, collection, SAD, OREO, etc.) and their compliance therewith, adequacy and accuracy of ALLL for those loans, etc.

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#1397460 - 05/27/10 08:45 PM Re: Problem Loan Review carteblanc
Cale_N_Oats Offline
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Cale_N_Oats
Joined: Aug 2008
Posts: 742
Southern Illinois
The FASB is done by the LO and put in file so i just check that and make sure its accurate. The policies and procedures are also checked during my review so i guess ive got a pretty solid review going. thanks for your help.
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