How do you determine the Call Report Code of a loan if you have real rstate on the loan for an abundance of caution? Some loans are otherwise unsecured or some have equipment as the other collateral.
Has clarity been provided regarding which assets receive community development credit?
When the first notice is sent to the borrower in regards to force-placed insurance, does the premium amount that may be charged to the loan after the 45 days have to be disclosed on the first notice to remain in compliance? What are the notice content requirements?
We are making a new loan to a company with property in flood zone. The property has 4 buildings on it that are due to be demolished soon with new construction of a above ground parking garage. Where can we find information on whether flood insurance is required on the above ground parking garage? We are not sure yet whether it will be completely walled in. We are going to require flood insurance on the buildings that will be demolished.
Will benchmarks be used to assign CRA ratings?