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#2017815 - 06/02/15 10:09 PM Construction-Perm loan
banker-12 Offline
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How do we report a construction-perm loan on commercial real estate for CRA when reporting it as a code 1A on the call report during the construction phase? Do we still include it as CRA type 1 (loans to small business) since it eventually will be classified as a code 1E1 for the call report when the construction is complete?

thanks,

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#2037018 - 09/03/15 10:43 AM Re: Construction-Perm loan banker-12
Kathleen O. Blanchard Offline

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Kathleen O. Blanchard
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Posts: 21,277
Report when complete and the category changes.
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Kathleen O. Blanchard, CRCM "Kaybee"
HMDA/CRA Training/Consulting/Mapping
The HMDA Academy
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#2037020 - 09/03/15 11:16 AM Re: Construction-Perm loan banker-12
Kathleen O. Blanchard Offline

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Kathleen O. Blanchard
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Posts: 21,277
Or when amortization begins...per call report rules.
_________________________
Kathleen O. Blanchard, CRCM "Kaybee"
HMDA/CRA Training/Consulting/Mapping
The HMDA Academy
www.kaybeescomplianceinsights.com

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#2055804 - 12/28/15 04:28 PM Re: Construction-Perm loan banker-12
banker-12 Offline
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Joined: May 2007
Posts: 1,180
If the amortization period begins in 2016, can we still report it under type 9 (other) for 2015 and report it again in 2016 under Small Business type 1 when the call code changes to 1E1?

thanks,

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#2055806 - 12/28/15 04:37 PM Re: Construction-Perm loan banker-12
Kathleen O. Blanchard Offline

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Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,277
Not if it is all one note, with no extended maturity date via a new note or modification.
_________________________
Kathleen O. Blanchard, CRCM "Kaybee"
HMDA/CRA Training/Consulting/Mapping
The HMDA Academy
www.kaybeescomplianceinsights.com

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#2055809 - 12/28/15 04:41 PM Re: Construction-Perm loan banker-12
banker-12 Offline
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Joined: May 2007
Posts: 1,180
Oh that's right - unable to report it in 2016 with an original loan date of 2015 (only one note). We will report it as type 9 in 2015.

thank you.

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