We get an automated download from our core processor of any new loan or renewal that gets booked. We then go through a process of elimination and scrub to get to our reported loans.
Depending on the codes from the core processor will determine if the loan is a business or consumer loan. Consumer loans are eliminated from the CRA Loan Register (LR).
The drill down then goes to loan amount - and any amount over $1MM is taken off of the LR but put into another file to review for potential Community Develoment loans.
We then look for any loans with a Construction/Development purpose code to be eliminated from the LR but held for another check for Community Development. Also, we have only one department that purchases real estate loans, so I get a report from them on their activity to make sure the Purchased Loans are appropriately reported (original amount - not purchased amount, and the Action Code is Purchased - not Originated, etc.)
Then we look at collateral codes. Any collateral code for residential property eliminates that loan from the LR but marks it for potential Community Development as well as a HMDA cross-check.
With what is left, we review Annual Revenues with a required second look at anything under $1MM in annual revenue. I have found that the Annual Revenue field in our core system is usually accurate for large businesses, but may require a second look for small busineses.
Then we look at the geo-coding for all loans secured by commercial/industrial real estate by comparing the loan address with the collateral address. Differences are communicated back to the loan officer to advise on which is the correct address to use depending if the real estate is substantial or incidental to the credit.
I then do a sampling of files to get a bead on how good the data is at that point.
I could go on, but my head is starting to hurt. Dawnie - got anything for that?