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Subject: Frequently Asked Questions
Date: September 8, 2005
To: Chief Executive Officers of All National Banks and National Bank Operating Subsidiaries, Department and Division Heads, and All Examining Personnel
Description: Residential Tract Development Lending
The guidance attached to this bulletin continues to apply to federal savings associations.
The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of Thrift Supervision, and the National Credit Union Administration are jointly issuing the attached document to assist institutions in complying with the agencies’ appraisal and real estate lending requirements for financing residential tract developments. The following topics are addressed:
For further information concerning the matters discussed in this bulletin or the attachment, please contact the Credit Risk Division at (202) 874-5170 or your supervisory office.
Barbara J. Grunkemeyer