The 2-Minute Rule for 228 loan
The 2-Minute Rule for 228 loan
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A big bank should acquire and maintain in electronic form, as prescribed with the Board, right up until the completion of your financial institution's upcoming CRA examination wherein the information are evaluated, the subsequent details for every small organization loan or smaller farm loan originated or procured via the financial institution throughout the evaluation time period:
(ii) In excess of 50 % on the undertaking is non-household as measured by The share of whole square footage or dollar volume of the job.
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(iii) A listing exhibiting Each and every census tract in which the bank documented a small small business loan or a little farm loan;
A lender topic to facts reporting specifications pursuant to § 228.42 ought to include in its public file a prepared detect which the CRA Disclosure Assertion pertaining into the bank, its operations subsidiaries, and its other affiliates, if applicable, could be obtained around the FFIEC's Site at:
(A) Brings together the general performance scores for every supporting conclusion for each significant item line into a product line rating; and
The Nationwide Asset-Primarily based Community Development Funding Benchmark actions the greenback quantity of Group enhancement loans and Local community growth investments that reward or provide all or Portion of the nationwide space of all depository institutions that noted pursuant to § 228.
) A lender might use different weights for combining the borrower and geographic distribution analyses for important product line(s) or other loan items.
The Board testimonials the effect and responsiveness from the lender's Neighborhood improvement loans and Group advancement investments that gain or serve a multistate MSA, as delivered in § 228.15.
suggests a shut-conclusion household property finance loan loan or an open up-close dwelling mortgage loan as these click here conditions are outlined With this part.
(five) Are offered to learners or their households via a college at which the majority of pupils qualify free of charge or reduced-price tag foods under the U.S. Section of Agriculture's National University Lunch Plan;
A substantial financial institution will have to obtain and preserve, within a format on the financial institution's deciding on or in a very standardized format, as supplied by the Board, right until the completion on the bank's following CRA evaluation where the info are evaluated, the subsequent Group enhancement solutions data:
For automobile loans, the Board compares a financial institution's geographic and borrower distributions to the applicable Neighborhood benchmarks, as offered in paragraph (f) of this section and part VI of appendix A to this component.
The Lender Multistate MSA Local community Improvement Funding Metric measures the greenback volume of the financial institution's community progress loans and Neighborhood improvement investments that profit or serve a multistate MSA in comparison to deposits during the financial institution situated in the multistate MSA, calculated pursuant to paragraph II.g of appendix B to this portion.