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Retention Period For Lending Documents

I'd like to know the retention period for lending documents and loan file data.

Answer: Your State Bankers Association should offer a record retention guide for your state. In addition, you must assure that you meet the minimum standards prescribed by each of the federal regs that apply to the types of loans in question.


Answer by: Carolyn Jones, BOL Guru

There are many documents that go into a loan file. There are about five of these that need to be retained once the loan is paid off, the rest can be purged along the way or at the time of payoff.

First published on 09/2/02

First published on 09/02/2002

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