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#316736 - 02/15/05 06:30 PM Community Development Loan Renewals
Mel Offline
100 Club
Joined: Mar 2004
Posts: 100
In 2003, we originated a commmunity development revolving line of credit, which was reported as a CD loan. It was then renewed in 2004....can I report it again? What would be the criteria for an "originated" loan?

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CRA
#316737 - 02/16/05 12:53 AM Re: Community Development Loan Renewals
Risa Offline
Junior Member
Risa
Joined: Sep 2003
Posts: 43
West Coast
Yes - you can report it in 2004 if you renewed it in 2004 and it was originally made in 2003. Originations include extensions and renewals. You can report one origination per loan per year.
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#316738 - 02/17/05 07:55 PM Re: Community Development Loan Renewals
HRH Dawnie Offline
Power Poster
HRH Dawnie
Joined: Aug 2002
Posts: 7,353
Anchorage Alaska
Report it every time it qualifies Think in terms of the value to the entity. If you didn't renew it, who would? How would they operate without the renewal? If another bank did the renewal (as a new deal) they'd take credit for it, so you can also take credit for it when it's renewed. You still provided value to the entity
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