Is there a retention requirement for Commercial real estate loans? Wouldn't it be the same as any other mortgage loan?

Our retention policy for closed consumer and commercial loans is 7 yrs; 25 months for denied; and 6 yrs for overdraft loan greements. I'm not sure where those periods came from, it was established long before I got into compliance and I have not done any research in this regard.

There currently is no regulation that will give you a retention for commercial loan documents.

Check with your State Board of Financial Insitutions or BOL members in the state where you work.

In the states where I work, minimum retention requirements of bank documents is outline in state code and are inclusive of Commercial Loans.

For Example - Credit files, appraisal,applications, etc. are to be retained for 5 years after loan closes (Commercial and Consumer Loans).

Regarding the prior posters reference to denials - 25 months (after the credit decision is made) is a Regulation B issue and includes small business with annual revenues of $1 million or less and consumer loans.

So depending on the state in which your bank operates, the answer will vary.