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#2114717 - 01/19/17 04:55 PM CD renewal?
banker-12 Offline
Diamond Poster
Joined: May 2007
Posts: 1,247
Can we count a renewal (no new money) as a community development loan if it meets the CD purpose? the loan matures and gets renewed every year.

thanks,

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#2114755 - 01/19/17 07:05 PM Re: CD renewal? banker-12
Tennismom Offline
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Tennismom
Joined: Jan 2004
Posts: 778

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#2114825 - 01/20/17 12:25 AM Re: CD renewal? banker-12
banker-12 Offline
Diamond Poster
Joined: May 2007
Posts: 1,247
It seems that our loan is a renewal loan under the CRA definition for community development loans. The line of credit matured and was renewed; however, the line of credit amount was reduced. We will report it as a CD loan.

Thank You.

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