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#337004 - 03/22/05 05:01 PM Extensions, deferrals, renewals & rewrites
HRH Okie Banker Offline
Power Poster
Joined: Jan 2003
Posts: 3,070
Oklahoma
I am attempting to re-write policy to more specificaly address the "Uniform Retail Credit Classification and Account Management Policy". I think my "attempt" is broke and could anyone share any information on the following?

1. How do you control the use of extensions, deferrals, renewals and rewrites of closed-end loans.

2. How do you track the volume and performance of loans that have been re-aged, extended, deferred, renewed or rewritten.
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Just working here until I get my letter from Hogwarts.

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Lending Compliance
#337005 - 03/22/05 11:06 PM Re: Extensions, deferrals, renewals & rewrites
HRH Okie Banker Offline
Power Poster
Joined: Jan 2003
Posts: 3,070
Oklahoma
Bump - Does anyone track/limit renewals & rewrites?
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Just working here until I get my letter from Hogwarts.

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#337006 - 03/23/05 01:51 AM Re: Extensions, deferrals, renewals & rewrites
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 79,637
Galveston, TX
Yes - most banks limit the processing of these to only individuals without collection or lending authority and with sufficient documentation and authority signatures. Many processing systems track the number of extensions, etc. and reports are periodically generated for management review. This is also usually a test performed by internal audit.
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