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#531851 - 04/13/06 10:28 PM Construction loan
BabySnubbles Offline
New Poster
Joined: Jan 2005
Posts: 2
Montana
I have a 60 day draw down loan used to construction mini storage units. It is unsecured, is this CRA reportable??

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CRA
#531852 - 04/14/06 12:45 PM Re: Construction loan
RR Becca Offline
Power Poster
RR Becca
Joined: Sep 2004
Posts: 5,249
out of the frying pan...
If it falls on line 4a of your Call Report, I would say yes.
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#531853 - 04/14/06 03:21 PM Re: Construction loan
Mrs. Rizzo Offline
10K Club
Mrs. Rizzo
Joined: Mar 2006
Posts: 10,392
Curled up by the fire...
The CALL report instructions say Exlude loans for nonfarm nonresidential property construction and land development purposes with original maturities of 60 months or less
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#531854 - 04/14/06 03:24 PM Re: Construction loan
RR Becca Offline
Power Poster
RR Becca
Joined: Sep 2004
Posts: 5,249
out of the frying pan...
Item #4 includes loans to finance construction that are not secured by real estate.
_________________________
You call it ADD. I call it multi-tasking.

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