The minimum DSCR allowed by policy for owner-occupied real estate transactions
What is 1.20X?
100
The minimum documentation required to transmit a loan to bank counsel.
What is the commitment letter, the CAM and the appraisal?
100
Is comprised of the following: the CAM, copy of note, guarantees, mortgage, insurance information, Loan Input Sheet and closing statement.
What is the booking package?
100
The frequency whereby the bank receives an examination.
What is annually?
100
An estimate of the bank's overall reserve for loan losses
What is the ALLL?
200
The calculation of a borrower and guarantor(s)' total recurring income along with recurring expenses for a given period.
What is Global Cash Flow?
200
The system used to track financial, documentary and covenant exceptions.
What is One Point?
200
Payoff letters are to be prepared within the following timeframe.
What is 24 - 48 hours from receipt of written request?
200
Reviews the quality of the loan portfolio and identifies deteriorating credits.
What is Loan Review?
200
Code which separates loan portfolio by segments of like risk.
What is the ALLL code?
300
The calculation of a borrower's recurring income and expenses documenting verification of employment and any estimated expenses.
What is Ability to Repay?
300
Government tracking which designates whether the loan should be reported to the government under specific criteria.
What is HMDA-LAR?
300
A process that happens once a year, whereby real estate taxes and insurance are annualized and any shortage is added to the borrower's monthly payment.
What is escrow analysis?
300
Authority that approves upgrades.
What is the FDIC?
300
The new regulation that came into effect on January 10, 2014, and among other things, specifies the definition for QMs.
What is the Dodd-Frank Act?
400
The number of days by which the bank is required to decision a credit application.
What is 30 days?
400
This type of insurance escrow is required at all times if the bank is requiring real estate taxes and hazard insurance escrow.
What is flood insurance escrow?
400
All payments received on a loan are applied to principal.
What is non-accrual or shadow accounting?
400
Grade 5 is considered this for examination purposes.
What is a "Pass rated" credit?
400
$250,000
What is the amount of FDIC insurance per individual at an institution?
500
Testing of the borrower's collateral to ensure coverage under a specific formula.
What is a borrowing base?
500
Document that displays all the fees and costs which must be approved by the Closing Coordinator in order to proceed with closing.
What is the Closing Statement or HUD-1?
500
When a payment of real estate taxes or insurance is expensed through the ALLL, the following should immediately occur.
What is a chargeoff?
500
Classified/ALLL+Tier 1 < 80%
Total NPA < $17MM
What are minimum requirements to be upgraded by FDIC?
500
The office of the government which administers and enforces economic sanctions.