Loan Policies and Procedures - CDFI Fund贷款的政策和程序- CDFI基金.pptVIP

* * * * * * * If we are doing something different than what the policies say, do we need to change our policies or do we need to change how we are doing things? New CDFI Revising existing policies and procedures Too stringent/too lenient Not detailed enough * Should staff approved loans go to Loan Committee * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * Example Collateral valuation standards In the case of real property, the Fund will require an appraisal document. Although the Fund recognizes that a fully documented, current, MAI appraisal is beyond the financial capacity of most of the Fund’s borrowers, an appraisal document acceptable to the Fund shall be required. An appraisal document includes one of the following: A letter of appraisal updating a previously completed fully documented appraisal A letter of opinion of value prepared by a licensed real estate broker provided the value is substantiated with comparable sales and other documentation vs. A form appraisal prepared by a licensed real estate appraiser. CDFI Fund Capacity Building Initiative Loan Policies and Procedures Example LTV not to exceed x% without Board Approval For loans up to and including $100,000, a staff prepared collateral valuation based on current market data will be acceptable subject to approval from the appropriate levels of loan authorizations. Unsecured loans Unsecured loans should be considered when a strong and creditworthy borrower makes such a request CDFI Fund Capacity Building Initiative Loan Policies and Procedures Considerations Do you have consistency in applying collateral/security standards? Where can you as CDFI show flexibility? What is an exception? Who can approve an exception? CDFI Fund Capacity Building Initiative