Charged off loan procedures
[DOC File]Audit Procedure
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Charged off Loans. 1. Ensure that there is a charge off policy which is: (a) Realistic; (b) Timely; and (c) Applied consistently from period to period. 2. From management, obtain the list of non-performing loans, and note if policy is being followed. 3. If applicable, prepare a schedule of loans and recommend that they be charged off ...
[DOC File]Accounting Policies and Procedures Manual
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5. A review of the current operating procedures should be made with the chairperson and treasurer and reaffirmed or revised. 6. All financial institutions should be notified of any changes to the authorized signers of the accounts within three (3) business days following the annual meeting. Computer System Backup Procedures. 1.
[DOC File]FINDINGS REPORT - Bankers Online
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Procedures for the timely charge off of loans that are determined to be uncollectible. A defined collection effort to be continued after a loan is charged off. Obtain a description of the process used by Management to determine an appropriate level for the allowance, along with the supporting documentation for the most recent evaluation.
[DOCX File]Retail Lending, Comptroller's Handbook
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This checklist can be used to evaluate account management and loan-loss reserve practices for banks that offer open-end credit products (credit cards, HELOCs, check credit, etc.). Most of the line items pertain to credit card programs, but the concepts apply to all open-end credit, and can be used to evaluate general risk management practices.
[DOCX File]Loan Policy Manual
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The SBA requires loans to be charged off after 120 days. Neither Loan Committee nor Board approval is required, although it will be reported to both by Lending Staff. CEDC loans may be charged off at 120 days as well, if they are deemed uncollectable. Both Loan Committee and Board approval are required.
[DOCX File]Credit Card Lending, Comptroller's Handbook
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The checklist should be used in conjunction with the related examination procedures. Note: Negative responses may indicate that bank policies are not consistent with the guidance. ... the bank ensure that the total amount credited to the ALLL as recoveries on a loan is limited to the amount previously charged off against the ALLL on that loan ...
[DOC File]INTRODUCTION - Small Business Administration
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: Interest rate charged on the loan when it is closed. If the loan has a fixed interest rate, then the interest rate will remain constant over the loan’s term. If the loan has a variable interest rate, the interest rate will vary over the loan’s term; therefore, this applies to fixed interest.
[DOC File]Audit Procedure - ACUIA
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4. Review delinquency reports to determine existence of uncollectible loans. From collectors and/or loan officers determine why loans have not been charged off. Audit Procedure By: Reference/Comments 5. For loan charge-offs: a. Determine that loans charged off during the period were properly approved. b.
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