12 C.F.R. § 560.170 Records for lending transactions.
Title 12 - Banks and Banking
In establishing and maintaining its records pursuant to §563.170 of this chapter, each savings association and service corporation should establish and maintain loan documentation practices that: (a) Ensure that the institution can make an informed lending decision and can assess risk on an ongoing basis; (b) Identify the purpose and all sources of repayment for each loan, and assess the ability of the borrower(s) and any guarantor(s) to repay the indebtedness in a timely manner; (c) Ensure that any claims against a borrower, guarantor, security holders, and collateral are legally enforceable; (d) Demonstrate appropriate administration and monitoring of its loans; and (e) Take into account the size and complexity of its loans.
Title 12: Banks and Banking
PART 560—LENDING AND INVESTMENT
Subpart B—Lending and Investment Provisions Applicable to all Savings Associations
§ 560.170 Records for lending transactions.
