negative pledge collateral

Posted By: swthomeala

negative pledge collateral - 10/15/13 06:14 PM

I have a purchase of a 1-4 family rental property that is being secured by a negative collateral pledge of another 1-4 family property. This is CRA reportable correct? I know it is not HMDA because negative collateral is the same as unsecured.
Posted By: Kathleen O. Blanchard

Re: negative pledge collateral - 10/15/13 06:30 PM

CRA reportable as what? If the loan is business purpose, and falls into the designated areas of the call report (and I have not gone to check where a negative pledge falls, probably unsecured) it would probably be small business if $1million or less.
Posted By: swthomeala

Re: negative pledge collateral - 10/16/13 03:14 PM

thanks