Real Estate Loan Policy Update

Product Update Notification

Real Estate Loan Policy Template Update - 08/26/08

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

This update is in response to the following regulatory guidance:

FDIC Financial Institution Letter FIL-45-2008 entitled "Supervisor Insights Journal - Summer 2008" dated June 10, 2008. This release contains two articles "Hybrid ARMS: Addressing the Risks, Managing the Fallout" and "A Primer on the Use of Interest Reserves" which are intended to provide guidance in managing the effects of unprecedented growth in hybrid adjustable rate mortgage (ARM) products, and an overview of the appropriate use of interest reserves.

http://www.fdic.gov/news/news/financial/2008/fil08045.html

FDIC Financial Institution Letter FIL-58-2008 entitled "Home Equity Lines of Credit - Consumer Protection and Risk Management Considerations When Changing Limits and Suggested Best Practices" dated June 26, 2008. This guidance reminds financial institutions that if, for risk management purposes, they decide to reduce or suspend home equity lines of credit, certain legal requirements designed to protect consumers must be followed. In addition, financial institutions are urged to work with borrowers to minimize hardships that may result from such reductions or suspensions.

http://www.fdic.gov/news/news/financial/2008/fil08058.html

What's Revised and Deleted

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 Home Equity Lending - Topic 6

Risk Management of Nontraditional Mortgage Products - Topic 7

Risk Management of Subprime Mortgage Lending - Topic 8

Risk Management of Mortgage Fraud - Topic 9

Risk Management of Foreclosure - Topic 10

Risk Management of Predatory or Abusive Residential Mortgage Loans - Topic 11

General Credit Underwriting Guidelines - Topic 12

Commercial Term Real Estate Loans - Topic 13

Residential Term and Open Real Estate Loans - Topic 14

Residential Lot Loans - Topic 15

Construction Loans - Topic 16

Commercial Construction Loans - Income Producing - Topic 17

Owner Occupied Commercial Construction Loans - Topic 18

Acquisition, Development and Construction (ADC) Lending - Topic 19

Letters of Credit, Assurance or Cash in Lieu Bonds - Topic 20

Residential Construction Loans - Topic 21

Appraisal and Evaluation Program for Real Estate Loans - Topic 22

Title Insurance Procedures - Topic 23

Mortgage Loan Brokerage Guidelines - Topic 24

Staff Training - Topic 25

Retention of Documentation - Topic 26

Includes the following form templates:

Consumer ARM Notices (3 pages)

Loan Presentation Form - Real Estate (8 pages)

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

Ordering Information

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

$425.00 - List Price

- or -

$50.00* - Update Price

*Applies only to clients who have purchased our 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 - 04/01/08 - $25.00

Real Estate Loan Policy Template Update - 07/17/07 - $100.00

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

If you have ordered this product after 07/26/08 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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