I'm taking an informal survey regarding interest rate accrual basis for consumer construction lending. If your bank does loans for consumer construction purposes, do you use an interest rate basis of 365/365, 360/360, 365/360, or something else (if something else, please indicate what that is). I appreciate all the feedback I can get on this. Thanks.
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Jim Bedsole, CRCM, CBA, CFSA, CAFP
My posts - my opinions