Real Estate Loan Policy Update

Product Update Notification - 07/17/07

Real Estate Loan Policy Template Update

Bankpolicies.com is proud to announce the immediate availability of our revised Real Estate Loan Policy Template product.

The revision to this product is in response to the following regulatory notices:

Joint Press Release dated May 31, 2007 that announced final illustrations of consumer information intended to help institutions implement the consumer protection portion of the Interagency Guidance on Nontraditional Mortgage Product Risks that the agencies adopted on October 4, 2006.

http://www.federalreserve.gov/boarddocs/press/bcreg/2007/20070531/default.htm

OCC Insights Report dated June 26, 2007 regarding best practices loan servicers are using to improve their contact rate with delinquent mortgage borrowers across America to help prevent foreclosures.

http://www.occ.gov/cdd/Foreclosure_Prevention_Insights.pdf

Joint Press Release dated June 29, 2007 that issued a final Statement on Subprime Mortgage Lending to address issues relating to certain adjustable rate mortgage (ARM) products that can cause payment shock.

http://www.federalreserve.gov/boarddocs/press/bcreg/2007/20070629/default.htm

Click here to review detailed subject matter regarding this updated product.

Product Contents

Purpose and Contents - Topic 1

Policy Statement - Topic 2

Definitions - Topic 3

Responsibility - Topic 4

Risk Management of Commercial Real Estate Loans - Topic 5

Risk Management of Nontraditional Mortgage Products - Topic 6

Risk Management of Subprime Mortgage Lending - Topic 7

Risk Management of Mortgage Fraud - Topic 8

Risk Management of Foreclosure - Topic 9

Risk Management of Predatory or Abusive Residential Mortgage Loans - Topic 10

General Credit Underwriting Guidelines - Topic 11

Commercial Term Real Estate Loans - Topic 12

Residential Term and Open Real Estate Loans - Topic 13

Residential Lot Loans - Topic 14

Construction Loans - Topic 15

Commercial Construction Loans - Income Producing - Topic 16

Owner Occupied Commercial Construction Loans - Topic 17

Acquisition, Development and Construction (ADC) Lending - Topic 18

Letters of Credit, Assurance or Cash in Lieu Bonds - Topic 19

Residential Construction Loans - Topic 20

Appraisal and Evaluation Program for Real Estate Loans - Topic 21

Title Insurance Procedures - Topic 22

Mortgage Loan Brokerage Guidelines - Topic 23

Staff Training - Topic 24

Retention of Documentation - Topic 25

Includes the following form templates:

Loan Presentation Form - Real Estate (8 pages)

Consumer ARM Notices (3 pages)

Real Estate Loan Action Plan and Status Report (2 pages)

Ordering Information

This revised product is available to purchase from Bankpolicies.com for:

$375.00 - List Price

- or -

$100.00* - Update Price

*Applies only to clients who have purchased the Real Estate Loan Policy Template within the last three years in addition to the following prior updates (if applicable):

Real Estate Loan Policy Template Update - 01/09/07 - $150.00

Real Estate Loan Policy Template Update - 05/23/05 - $50.00

If you have ordered this product after 06/17/07 you are eligible to receive the product update at no charge.

Click here to place an order for this product. Clients who are eligible for our Legacy Rewards Volume Discount can apply their applicable discount level to the list or update price (whichever applies).

NOTE: Refer to our Place an Order page for important information regarding payment terms and our return policy. Orders placed for Product Updates are only available directly through Bankpolicies.com.

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