228 loan - An Overview
228 loan - An Overview
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The Board evaluates a little financial institution's file of assisting to fulfill the credit needs of its overall Local community pursuant to the Smaller Bank Lending Take a look at as furnished in paragraph (a)(2) of the part, Unless of course the smaller lender opts to be evaluated pursuant to your Retail Lending Take a look at in § 228.22.
A lender necessary to report house mortgage loan loan facts pursuant to twelve CFR element 1003 will have to involve in its community file a composed notice the lender's HMDA Disclosure Statement can be acquired on The patron Money Protection Bureau's (CFPB's) Web page at:
Besides as otherwise delivered On this part, a lender need to make sure that its community file incorporates the information expected by this portion for each of the earlier three calendar a long time, with the most recent calendar year included in its file each year by April 1 of the present calendar calendar year.
To establish supporting conclusions for geographic distributions of closed-finish residence mortgage loan loans, tiny company loans, and little farm loans, the Board evaluates the lender's functionality by comparing the Geographic Lender Metric to general performance ranges, based on the Geographic Marketplace Benchmark, the Geographic Local community Benchmark, and multipliers, as explained in paragraphs V.b and V.c of appendix A to this element.
The Board evaluates a armed service financial institution pursuant on the relevant overall performance exams described in paragraph (a) of the portion.
The Board considers the department availability and solutions provided at branches of banking companies that work a number of branches pursuant to paragraph (b)(two) of this area.
(4) Missing or faulty details that may be necessary to determine the applicable metrics and benchmarks or every other components that reduce the Board from calculating a Retail Lending Examination recommended conclusion.
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(3) The range and greenback volume of small small business loans and smaller farm loans Situated inside of each facility-centered assessment place and retail lending assessment space described from the financial institution and also the range and greenback quantity of compact business enterprise loans and smaller farm loans Found beyond the facility-centered assessment parts and retail lending assessment regions claimed from the financial institution; and
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The Board evaluates the record of the intermediate financial institution, or a small bank that opts to be evaluated underneath the Retail Lending Exam, of assisting to fulfill the credit history desires of its overall Local community in its outdoors retail lending space pursuant to § 228.22, for a specific calendar calendar year, if:
For dwelling mortgage loan loans, the lender ought to establish the home mortgage loan loans noted by its functions subsidiary underneath 12 CFR aspect 1003, if relevant, or gather and keep knowledge on residence mortgage loan website loans by its functions subsidiary which the financial institution would have gathered and maintained pursuant to paragraph (a)(three) of this portion had the lender originated or acquired the loans.
(2) A home home loan loan or even a multifamily loan is found within the census tract in which the house securing the loan is found; and
(i) The whole thing of just one MSA (using the MSA boundaries that were in outcome as of January 1 with the calendar 12 months during which the delineation applies), excluding any counties inside the huge bank's facility-dependent assessment parts; or