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Product Update Notification - 01/09/07 Real Estate Loan Policy Template Update Detail What's New Topic 3 - Definitions. Several definitions were added. Topic 4 - Responsibility. Detailed responsibilities are now included for the following: Board of Directors and Senior Management Loan Committee Chief Credit Officer/Loan Administration Loan Officers Compliance Officer Credit Review and Bank Examiners Topic 5 - Risk Management of Commercial Real Estate Loans. Includes the following subtopics: General Risk Management Overview Commercial Real Estate Assessments Risk Management Program Regulatory Guidelines for Commercial Real Estate Concentration Risk Topic 6 - Risk Management of Nontraditional Mortgage Products. Includes the following subtopics: General Risk Management Overview Loan Terms and Underwriting Standards Qualifying Borrowers Collateral Dependent Loans Risk Layering Reduced Documentation Simultaneous Second Lien Loans Introductory Interest Rates Lending to Subprime Borrowers Non-Owner Occupied Investor Loans Portfolio and Risk Management Practices Consumer Protection Standards Implemented Practices Prohibited Practices Topic 20 - Staff Training. Topic 21 - Retention of Documentation. What's Revised Topic 2 - Policy Statement. The following subtopics were revised: General Portfolio Diversification and Concentrations Exceptions to Policy The following subtopics were added: Asset Allocation Market Conditions (formerly Topic 4) Lending Limits Loan Pricing Loan Fees Purchasing, Selling and Loan Participations Insider and Affiliate Credits Non-Discrimination Policy Geographic Area Coverage (formerly Topic 3) Topic 7 - General Credit Underwriting Guidelines. The subtopic entitled "Undesirable Loan Types" (formerly Topic 18) was added. Topic 17 - Appraisal and Evaluation Program for Real Estate Loans. This topic was completely revised to mirror and reference a portion of our Appraisal Policy Template product. Topic 19 - Mortgage Loan Brokerage Guidelines. The "General" subtopic was revised and a new subtopic entitled "Purposes and Scope" was added. Ordering Information This revised product is available to purchase from Bankpolicies.com for: $375.00 - List Price - or - $150.00* - 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 update (if applicable): Real Estate Loan Policy Template Update - 05/23/05 - $50.00 If you have ordered this product after 12/09/06 you are eligible to receive the updated product 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. Find Out What's New or Revised with our Product Update Program Our Product Update Program allows existing clients to receive e-mail notifications from us the same day we issue a new or revised product. We encourage you to subscribe today for this free and convenient service. |