Real Estate Loan Policy Update Detail

What's New

Topic 7 - Risk Management of Subprime Mortgage Lending. Includes the following subtopics:

General

Predatory Lending Policy Statement

Underwriting Standards

Workout Arrangements

Consumer Protection Principals

Control Systems

Topic 8 - Risk Management of Mortgage Fraud. Includes the following subtopics:

General

Specific Types of Fraud and Prevention Techniques

Additional Risk Management Measures

Topic 9 - Risk Management of Foreclosure. Includes the following subtopics:

General

Risk Management Overview

Contacting Delinquent Borrowers

Options for Delinquent Borrowers and the Bank

Prime and Subprime Loan Considerations

Topic 10 - Risk Management of Predatory or Abusive Residential Mortgage Loans. Includes the following subtopics:

General

Avoidance of Particular Loan Terms, Conditions and Features

Enhanced Care to Avoid Abusive Loan Terms, Conditions, and Features

Avoidance of Consumer Misunderstanding

Purchased and Brokered Loans

Monitoring and Corrective Action

The following new form template product is now included in the purchase price:

Consumer ARM Notices (3 pages)

What's Revised

Topic 2 - Policy Statement. The following subtopics were added

Insurance

Predatory Lending Policy

Topic 6 - Risk Management of Nontraditional Mortgage Products. The subtopic "Implemented Practices" was revised to include a reference to the new Consumer ARM Notices Form Template (under item 1. "Communications with Consumers").

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.