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Recap of Interagency Examination Guidance During Covid-19

Posted by Jim Fraser on Jun 24, 2020 at 5:15 PM

Banking regulators issued a joint statement on June 23rd providing examination guidance outlining supervisory principles to evaluate safety and soundness of regulated financial institutions during the Covid-19 pandemic.

Referencing the initial Declaration of National Emergency, the CARES Act and subsequent updates, the interagency guidance provides an overview of the examination processes and expectations related to Covid-19 actions. The guidance elaborates on impact to real estate secured lending important to Built clients, including the following key topics:

  • Examinations will evaluate management’s initial and ongoing risk assessment of pandemic related risks.
  • Examinations will assess risk identification and reporting of impacted assets and markets.
  • Examinations will apply credit classification standards while recognizing Covid related constraints but focus on management ability to identify loans substantially affected by the pandemic and recognize deterioration quickly.

The guidance is attached via link HERE

Topics: covid-19, banking, real estate

Jim Fraser

Jim Fraser

Jim Fraser has over 30 years of experience in financial services, with an emphasis in construction lending and real estate development. Fraser currently works at Built Technologies as Lending Channel Manager, overseeing Built's construction lending origination and loan administration platform solutions. Built’s platform has supported over $68B in construction commitments as of 2020 and is used by more than 130 of the nation’s leading construction lenders. Prior to working at Built, Fraser was EVP of Commercial Lending at Axos Bank [NYSE: AX], where he was responsible for commercial construction lending, income property, lender finance, equipment leasing and factoring, with a combined portfolio of $5 billion. Previously, Fraser was Managing Director at Banc of California [NYSE: BANC], managing $500 million in residential and CRE construction, including FNMA and FHA renovation lending programs under Banc Home Loans national mortgage lending brand and third-party, fee-based services under RenovationReady, a division of Banc Home Loans. He brings his banking expertise to the Built Technologies team as they build the leading solution for the entire construction finance ecosystem.

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