Navigate to a Better Method of Loan Portfolio Management, Compliance, Documentation and Reporting
“That's over 30 days per year in Savings to Manage your Banks Primary Asset. "
Maintain a highly efficient collaborative work flow between You, your Team and your Customers and even your Examiners.
As outlined by Citi Foundations Technical Assistance Memo by Donna Nails, May 2010,
Excessive lender analysis of borrower’s concept with limited analysis of borrower’s financial information
Over-reliance on projected net income instead of historical net income
Lack of independent analysis of participations purchased from other institutions
Lack of documentation regarding physical inspection of business and/or collateral
Lack of follow-up process after loan closing to ensure receipt of all loan documentation
No evidence of insurance in place (expired insurance certificate in file)
Lack of system to confirm payment of taxes and renewal of insurance policies
Late receipt of financial statements (missing or outdated financial statements)
Lack of documentation of agreement with borrower
Unrealistic action plan
Loan was not downgraded
Lack of evaluation of possible losses
Lack of documentation (phone calls/visits) of monitoring by loan officer
Lack of evidence of approval in file
