Data Dictionary
Item Number 2050
INSTALLMENT LOANS TO REPAIR AND MODERNIZE RESIDENTIAL PROPERTYCall confidentiality applies to FFIEC 031/041.
| Series | Start Date | End Date | Confidential? | Reporting Forms |
|---|---|---|---|---|
| CNCR2050 | 1975-11-30 | 1978-09-30 | Yes | FR 2571 |
| RCON2050 | 1959-06-10 | 1985-12-31 | No | Multiple Forms |
| SVGL2050 | 1981-06-30 | 2011-12-31 | Yes | Multiple Forms |
Data Description:
Includes unpaid balance of installment loans to individuals, both direct loans and purchased paper, made to finance additions, alterations and improvements to existing completed non-farm residential properties, unless such loans are secured by real estate, in which case they are reported in "Real Estate Loans (1410)." Includes so-called Class 1 loans insured under Title I of National Housing Act, as well as any other installment loans that are not secured primarily by real estate to finance alterations and improvements to existing completed residential properties. This includes all loans made to an individual to repair and modernize a house that (s)he rents to someone else. Not included are loans for business or professional purposes, loans to farmers, so-called Classes 2, 3, and Section 8, Title I loans or any other loans for financing new construction, or real estate mortgage loans insured under Titles II, VI, and VIII of National Housing Act. Also excludes loans made to finance addition to an existing structure, if the addition is physically unattached to the existing structure. Such loans are included in "Other Installment Loans for Household, Family, and Other Personal Expenditures (2060)". Reported net of hypothecated deposits. NOTE: Reported on the CNCX archival file for the CNCR series. COMPARABILITY: Beginning 3/31/1999, for the SVGL report, the definition was revised and includes all closed-end, unsecured home improvement loans (insured or uninsured) for the equipping, alteration, repair, or improvement of 1-4 dwelling units. These loans are unsecured, arenot fully secured by the real estate, or lack documentation of the value of the real estate collateral (e.e., do not have an appraisal). Excludes: 1. Loans for the improvement of multifamily housing (5 or more dwelling units) or for nonresidential property; reported item no. 1569 and; 2. Home equity lines of credit; reported item no. 2705. Prior to 3/31/79, only the CNCR series was reported net of hypothecated deposits.