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#493635 - 02/06/06 02:21 PM Retention-Fireproof?
P*Q Offline

Power Poster
P*Q
Joined: May 2001
Posts: 8,458
Somewhere
Is there a regulatory requirement that we retain loan files (or certain components of loan files such as notes) in fireproof cabinets or is this best practice? Thanks!

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Lending Compliance
#493636 - 02/06/06 04:18 PM Re: Retention-Fireproof?
SavannahOne Offline
Diamond Poster
Joined: Sep 2005
Posts: 1,163
Georgia
I am not aware of any Reg on this. Suggested Best practice: original notes and security docs (titles and debt deeds) in fireproof; copies of notes and LO memos in regular.

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#493637 - 02/06/06 09:41 PM Re: Retention-Fireproof?
Tessie Offline
100 Club
Joined: Jan 2006
Posts: 155
How long do we have to keep paid off loans?

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