Down payments must be:
What is Verified?
What two requirements must be fully discussed in a credit application?
What is Debt service capability of the borrower and of the guarantor?
What action is taken when a borrower is in violation of the terms of their loan agreement?
What is A breach letter is sent?
What dollar amount of shares must a Member buy to be a voting Member?
What is $25.00?
What tool is used to determine if a Phase 1 Environmental assessment is required?
What is Environmental Assessment questionnaire?
The level of energy costs must be included in the calculation of:
What is TDS/GDS for uninsured mortgages?
Measures to ensure all loan and account behaviour is called a:
What is Basic Review?
Accountant produced financial statements are required when:
What are New commercial credit facilities above $1 million with different year ends and different owners?
Use of interest rate discretion above normal discretion must be:
What is Approved and signed by a higher authority and in the file
What must be noted in all credit approvals?
What is Connected Party Exposure?
In loan applications, what should also be verified if there are connected parties?
What are Connected party loans?
What activities should a lender use when assessing complete credit risk of a file:
What are Borrower analysis, financial analysis, guarantor analysis, lease analysis?
Appropriate covenants are to be utilized in analysis of financial performance. These are:
Debt Service Covenant
Debt to Equity Covenant
Working Capital Covenant
The most common credit requests are:
What are mortgages, loans and lines of credit?
How many branches does Kindred Credit Union have?
What is eight?
How many residential units are allowed before the borrowing Member has to apply as a commercial loan?
What is four units?
All changes made to Credit applications need to be:
What is Properly documented and signed off by the appropriate authority?
When are Compliant Certificates required?
What is For any operating loans reliant upon margin security over $3 million?
Our borrowing Members are categorized as:
What are:
Personal & residential
Commercial, Ag, Churches and non-profits
Institutional
Who pays for a Phase 1 Environment assessment?
Who is the Borrower?
Collectibles, art, grand pianos and precious metals are considered what on an application?
What are personal assets that don't count on an application?
To confirm the adequacy of an appraisal of a $1 million plus deal we use:
What are NOI and Cap Rate calculations?
What Kindred program monitors whether any exceptions to credit policy were identified and properly signed off?
What is the Loan Quality Assurance Program? A focus for 2022 and beyond!
What percentage of Kindred Membership have borrowings with us?
What is 29%?
Industry average is 37%
How often should an annual review be done?
What is Exactly?