Data Dictionary
Item Number 5333
OTHERCall confidentiality applies to FFIEC 031/041.
| Series | Start Date | End Date | Confidential? | Reporting Forms |
|---|---|---|---|---|
| SVCC5333 | 1990-03-31 | 2011-12-31 | No | OTS 1313 |
Data Description:
Includes all fifty-percent risk-weight assets not included in item 5332 as defined in OTS Regulation 567.6(a)(1)(iii). Also includes the credit equivalent amount of interest and exchange rate contracts (e.g., interest-rate swaps and caps) where the counter party is an entity other than a domestic depository institution, a FHLBank, or a Federal Reserve Bank, revenue bonds issued by any public-sector entity in an OECD country that are payable solely from the revenues generated from the project financed through the issuance of the obligations and qualifying residential construction loans, also called residential bridge loans, meeting the criteria of 12 CFR & 567.1. Such loans must satisfy the following criteria:
a. You must make the loan according to sound lending principles to a builders with at least 15 percent equity in the project (or higher, depending upon the risk of the project) who will construct a one-to four-family residence that, when sold, will be owner-occupied.
b. You must obtain sufficicent document from a permanent lender (that may be the construction lender) demonstrating all the following:
i. The homebuyer intends to purchase the residence.
ii. The homebuyer has the ability to obtain permanent qualifying mortgage l oan sufficient to purchase the residence.
iii. The homebuyer has made a substantial earnest money deposit.
c. The construction loan must met all the following requirements:
i. Not exceed 80 percent of the sales price of the residence.