Ga. Comp. R. & Regs. R. 80-1-5-.02 - Real Estate Loans
(1)
A real estate loan (including a leasehold) within the meaning of Part 365 of
the Federal Deposit Insurance Corporation's rules and regulations, including
12 CFR
365.1 and
365.2 and the Interagency
Guidelines for Real Estate Lending Policies in Appendix A, and
12 C.F.R.
208.51 and the guidelines contained in 12
C.F.R. Part 208 in the case of Federal Reserve member banks, shall comply with
the Real Estate Lending Standards of the above laws.
(2) If a loan could be made without real
estate as security, a bank will not be penalized for adding real estate as
collateral in an abundance of caution. A notation in the loan file must
indicate this lack of reliance on the real estate and must meet general safety
and soundness standards for credit risk. This does not constitute a waiver of
O.C.G.A. §
7-1-285, related Department rules
and regulations, or requirements of federal law, and the soundness of the loan
should always be considered.
(3)
Except as expressly authorized by O.C.G.A. §§
7-1-262 or
7-1-263, banks may not acquire
directly or indirectly any ownership interest in real estate without the prior
written approval of the Department.
Notes
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