Our bank is currently scrubbing our loans in Call Report Code 1A2 - Other construction loans and all land development and other land loans. The following are questions to decide whether some loans are in the right bucket:
- What classifies as farmland vs raw land?
- Are loans secured by timber tracts considered farmland?
- What call report code do trailer parks belong in?
- Are they considered "other" land and belong in 1A2 or can it be classified as a 1E2 since it is an income producing property?
We have a loan secured by a ground lease. The building on the property is not owned by our borrower. What call report code should this be reported under, is it considered a land loan since that is our collateral even though it is not vacant?
We are trying to determine a call report code for a commercial loan secured by land only on a mobile home park. We will not have any mobile homes as collateral and there will be no construction done to the property.
Reg O - Directors (not Executive officers). Are primary residences subject to Reg O reporting for directors? Are there specifics to when they are or not be be reported such as on the mortgage system, loan side, 2nd lien or purpose like Executive officers?
Customers of ours purchased the property adjacent to their homestead. There is a small workshop, approximately 1200 sf with a bathroom on the property. We have the first lien on these lots but another financial institution has the first lien on their homestead. What call report code do we use? Can we use 1c(2)a, 1-4 family, if the residence is next door? Should we use 1a(2), for land development and all other land loans?
A director of a bank has a Freddie Mac Loan and the bank is servicing the loan. Does the bank report the current balance as an insider loan on the Schedule RC-M of the Call Report?
What is the definition of a restructured loan?
We are a national bank and a member of the FDIC. On our internal calculation of the past due ratio, non-accrued loans are being subtracted from total loans and then non-accrued loans are not considered in the 30, 60, 90+ days past due. Should non-accrual loans be included in total loans since they are loans outstanding? Is there any OCC or FDIC rule that either supports using non-accrual loans or states that non-accrual loans are not to be included in the calculation of total loans and past due percentage?
I'm a little confused about Subprime lending. Does this apply to all loans or just real estate? Also, do we need to flag our loans for the new call report requirement?