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#1575 - 05/03/01 01:39 PM IMAGE FILES AND EXAMINERS

We have recently gone to imaging our loan documents and bulk filing. We will be having examiners in the bank in a few days and what I wanted to know is how do examiners respond to having to look up the loan images on our imaging system. I am assuming that we will need to set computers up in the room where they will be working and train them on how to use our system. Has anyone had any experience with this? Any information would be appreciated!!!

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General Discussion
#1576 - 05/03/01 02:08 PM Re: IMAGE FILES AND EXAMINERS
LarryC Offline
Junior Member
Joined: May 2001
Posts: 34
Seminole, Florida, USA
We've had both Fed and State; and after a small learning curve (ea. sys. is diff.) they all seemed to really like it. We've havn't started shredding yet, and one silly comment by an examiner was that we shouldn't have both! I'm not ready yet to give up my files. They will (dep. on your sys.) prob. complain about the number of indexes you use. I told them it all boils down to whether or not you put extra time on the front end indexing for them or time on the back end looking thru a Misc (catch all) folder for some items we may never look at again.... but they want to see.... i.e. title commitment- after closing we don't usually review that. On the other hand financials, tx retns, insurance is all indexed.

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#1577 - 05/03/01 03:21 PM Re: IMAGE FILES AND EXAMINERS

Our loan administrators are working on getting the indexing improved and getting all the "junk" out of our miscellaneous files. Thanks for your comments!

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#1578 - 05/03/01 09:19 PM Re: IMAGE FILES AND EXAMINERS
tsorbe Offline
Joined: Dec 2000
Posts: 55
Brookings, SD
Ex-examiner here. I wish more banks would have imaged documents. If they do it right, banks can find the imaged document faster than the paper document.
Trent Sorbe President First Community Financial, Inc. Brookings, SD

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#1579 - 05/03/01 09:40 PM Re: IMAGE FILES AND EXAMINERS
SMQ, CRCM Offline

Power Poster
Joined: Apr 2001
Posts: 4,828
Between the lines
We had OCC examiners and they preferred the imaged docs, no problems learning the system. We also sent them most of the pre-exam materials electronically and communicated via email prior to on-site visit.
NOLA is my Beach!

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#1580 - 05/04/01 06:43 PM Re: IMAGE FILES AND EXAMINERS
John Burnett Offline
10K Club
John Burnett
Joined: Oct 2000
Posts: 39,408
Cape Cod
Another advantage to image filing is that, provided you index images accurately and adequately, you don't have to worry about mis-filing when things are put away.

Comment on providing examiners data electronically: Talk to your examination staff about getting secure electronic access. I am troubled by the thought that we might be sending customer and other confidential data in the clear via e-mail attachment!

John S. Burnett
Fighting for Compliance since 1976
Bankers' Threads User #8

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