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#1536420 - 04/15/11 08:23 PM 1B0 call code
Glo Offline
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Joined: Jul 2005
Posts: 394
Arkansas
I am looking at a loan that is to pay off federal tax lien, and it's secured by real estate mtg(22 acres of vacant land), fram tractor and other various tractors and trailers. The call code is 1B0, but the CRA sheet is saying that it's a business loan. Do we not have to go by what the call code is to determine a business loan vs. a farm loan?

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CRA
#1536427 - 04/15/11 08:33 PM Re: 1B0 call code Glo
Kathleen O. Blanchard Offline

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Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,293
It may be a business loan but not for CRA purposes.

Loans secured by land do not fall into the categories for CRA type 1.
_________________________
Kathleen O. Blanchard, CRCM "Kaybee"
HMDA/CRA Training/Consulting/Mapping
The HMDA Academy
www.kaybeescomplianceinsights.com

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