We have a single pay home improvement loan due in 1 month, secured by a vehicle. Repayment to come from regular income. When we go to the rate spread on the FFIEC website, do we use 0 for the term or 1. 0 gives us an yield spread of about 58%

Also, when these loans are secured by a vehicle, do we still mark conventional as the type on our LAR?

The rate spread is only used when the loan is secured by a dwelling. You would not need to fill this out since it is secured by a vehicle.

Yes, you would mark this as conventional (unless it is a FHA, FA. FSA or RHS loan).

If you have classified this as a vehicle loan instead of a home improvement loan then it is not reportable.


And I also agree with CSB1, the rate spread only applies to dwelling secured loans subject to Reg. Z.