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#372248 - 06/13/05 05:44 PM LTV on lot loans
Anonymous
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Is there somewhere I can find limits on what the LTV should be on lot loans? We are currently running a "special" program financing 100%.

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Lending Compliance
#372249 - 06/13/05 06:00 PM Re: LTV on lot loans
Sooner Fan Offline
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Where the wind blows swiftly d...
Loan-to-value ratios should be set internally w/in your bank.

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#372250 - 06/13/05 06:17 PM Re: LTV on lot loans
HRH Okie Banker Offline
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Joined: Jan 2003
Posts: 3,070
Oklahoma
But along with internal loan to value limits you should look at the OCC Advisory Letter AL 2003-7, about the OCC's real estate lending standards (12 C.F.R. 34, Subpart D, Appendix A). This deals with proper calculation of ltv limits, supervisory LTV limit for a finished lot loan and classifying high LTV loans and reporting them.
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#372251 - 06/13/05 10:44 PM Re: LTV on lot loans
rlcarey Online
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rlcarey
Joined: Jul 2001
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Galveston, TX
You will need to report all of these loans on a quarterly basis to your board of directors until they pay down below the supervisory LTV limits.
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