We are required to report to the BOD the number of loans in excess of the supervisory ltv limits. The regulation specifically states that the aggregate amount of all loans in excess of the supervisory ltv limits should not exceed 100 percent of total capital. Within the aggregate limit, total loans for all commercial, agricultural, mulit-family or other non 1-4 family residential properties should not exceed 30 percent of total capital.
Where would residential land development and construction of 1-4 family residential loans fall - 30% or 100% of capital?