How does a credit union with a participation loan that has real estate as the collateral, report it on the Loan Charge offs and Recoveries schedule? Is there double counting?
• The credit union would first report the balance of the loan charge off in the applicable real estate category directly under the heading titled Loan Loss Information. The same loan balance would then be reported on line 20 – Participation Loans. This line is one component of supplemental reporting under the Additional Loan Loss Information heading. The totals entered under this heading do not count as additional charge off totals for aggregate credit union charge offs.
Related Questions
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