Bank Regulation
This act encourages banks and thrifts to meet the credit needs of their entire community, including low- and moderate-income neighborhoods, and is enforced through regular examinations and public ratings.
What is CRA (Community Reinvestment Act)?
This code is a sub category of the Class Code.
What is the Type Code?
The 5 C's of Credit.
What are, Capacity, Capital, Collateral, Conditions, and Character?
$1MM single loan with no other exposure would require this approval limit.
What is President or Chief approval?
Under this regulation, creditors must notify applicants of action taken—whether approved or adverse—within 30 days of receiving a completed application.
What is Regulation B (Equal Credit Opportunity Act)?
Class Code 14
What is land development secured by 1-4 family?
This ratio measures the borrowers ability to meet current obligations
What is the Current Ratio?
Regardless of Aggregate Exposure, certain types of loans can be approved by a President up to $400,000 and individual officers up to $100,000.
What is a Small Loan Transaction?
This act requires financial institutions to collect and report data on mortgage lending to help identify discriminatory lending patterns and ensure fair access to credit.
What is HMDA (Home Mortgage Disclosure Act)?
Type Code 91
What is consumer auto loan (class 16)?
When a loan is graded this grade, it must receive a one up approval.
What is grade 5?
True or False: A loan with an Abundance of Caution is considered Unsecured.
What is False?
This regulation requires creditors to provide an appraisal notice disclosure to loan applicants for dwellings (which includes 1-4 family residential properties). This notice must inform applicants of their right to receive a copy of any appraisal or other written valuation developed in connection with their application.
What is Regulation B (Equal Credit Opportunity Act)?
This collateral code will be used in the user fields, but a seperate code will be used on the collateral tab.
What is collateral code 2 Unsecured - AOC?
Accounts Receivable eligibility in the borrowing base is generally limited to a total of ___ days from the date of invoice
What is 90 days?
Non RE loans with balances over $______ require at minimum, financial statements to be collected annually.
What is $500,000?
This regulation limits the amount of credit that banks can extend to their own executive officers, directors, and principal shareholders, and requires board approval for certain loans.
What is Regulation O (Loans to Executive Officers, Directors, and Principal Shareholders)?
This code categorizes loans according to security, borrower, or purpose on Call Report section RC-C.
What is the Class Code (AKA Call Code)?
The change in the ________ over time is key factor in the calculation of expected credit losses over the life of the loan at origination (called the Current Expected Credit Loss model or CECL) and helps inform the amount that should be added to the allowance for credit loss (ACL) for that loan.
What is the Loan Grade?
Standard Flood Hazard Determination must be obtained or renewed every time you _______, _______, _______, or _______ a loan.
What is Make, Increase, Renew or Extend?