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Add Force Placed to Nonaccrual Collateralized?

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Question: 
Can you add force placed insurance to a non-accrual loan that is well collateralized? State laws and the contract allow it for it.
Answer: 

It would be a business decision. Non-accrual is nothing but a required accounting method and has nothing to do with the contract between the bank and the borrower.

First published on 03/10/2019

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