Should charge-offs and sales be reported if the loan has an LTV greater than or equal to 90% at the time of charge-off, at the beginning of the quarter, or does the LTV calculation revert back to point of origination?
Charge-offs and sales should be reported on Schedule LD if the loan was reported on schedule LD either in the prior or current quarter. SUBJECT: High LTV Charge-offs and Sales Line: LD310 – LD320 Date: June 13, 2001 Q&A No. 134 Question 1: We have loans secured by both the commercial and residential real estate of a borrower. The residential real estate is a single-family house. Do I report this loan on the TFR, as a non-residential or residential loan? Answer 1: You should report loans secured by property with more than one use or secured by several properties with different uses, such as residential and commercial, in the data field that describes the property type comprising the largest percentage of the value of the properties securing the loan. If you make a loan secured by commercial property, but take a second on the borrower’s home as additional collateral on the loan, the loan should be reported as a nonresidential property loan. Loans secured by single-family housing with inc
Related Questions
- Should charge-offs and sales be reported if the loan has an LTV greater than or equal to 90% at the time of charge-off, at the beginning of the quarter, or does the LTV calculation revert back to point of origination?
- My organization needs to borrow funds in an amount greater than NCCLF’s loan limit. Can NCCLF still help us?
- Can the Contractors make a modification to the Report of Sales and IFF once they have been reported?
