CRE Loan Purpose Categories Missing For INDI, REVT And RETTRUST Party For COMIND Reg Prod Class
(Doc ID 2658645.1)
Last updated on APRIL 20, 2020
Applies to:Oracle Financial Services - Regulatory Reporting for US Federal Reserve - Lombard Risk Integration Pack - Version 8.0.9 and later
Information in this document applies to any platform.
Report- FRY9C, FFIEC031, FFIEC041
Scheudle HC-C, RC-C
Impacted lie item 3, MDRM codes-BHCK1763, BHCK1763, RCFD1763, RCFD1764, RCON1763, RCON1764
RC-C Memo line 3 RCFD2746 is based on 8 Reg Loan Purpose values; (ACQN, ACQNCOMRESREL, COMM PROP, COMMDEV, DBL, INDUSTRIAL PROP, LNDACQDEV, REFIN).
ACQN Acquisition (nonowner occupied)
DBL Development of Building lots
LNDACQDEV Land Acquisition & Development
COMM PROP For purchase or construction of Commercial Property
INDUSTRIAL PROP For purchase or construction of Industrial Property
COMMDEV Community development
ACQNCOMRESREL Acquiring, developing and renovating commercial and residential real estate
RC-C line 4 (Commercial and industrial loans) logic is based on Reg Prod Classification Code of COMINDLOAN. Logic in rule (RLUS_FRAS_REG_PROD_CLASS_09) for the 3 Party Types of INDI (Individuals), REVT (Revocable Trust) and RETTRUST (Retail Trust) that map to COMINDLOAN does not consider the following 7 values used of Reg Loan Purpose used in Memo line 3 RCFD2746 (ACQN, COMM PROP, COMMDEV, DBL, INDUSTRIAL PROP, LNDACQDEV, REFIN).
These Reg Loan Purpose values should also be considered for RC-C line 4. In the current logic for these Party Types would not report them on line 4 but would likely report such loans on line 9.b.2
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