Hello - im new to this area, so if anyone can please help me out, i would really appreciate it:
- How are lines of credit reported for CRA purposes? - What amount is the originated loan amount, the total line or the drawn down balance at the time of reporting? - What do we do with loans that were originated at over $1 million?
For lines of credit, use the note amount (the maximum availability). Loans or lines greater than $1MM will not be small business loans. If they wualify, they can be community development loans.
_________________________ Kathleen O. Blanchard, CRCM "Kaybee" HMDA/CRA Training/Consulting/Mapping The HMDA Academy www.kaybeescomplianceinsights.com