Alert July 10, 2012

FRB Releases OREO Q&As

Citing an increase in Other Real Estate Owned Assets, the FRB recently issued Questions and Answers clarifying its existing OREO policies.  The Q&As focus on six topics: (1) Transferring an Asset to OREO; (2) Reporting Treatment and Classification; (3) Appraisal Concepts; (4) Ongoing Property Management; (5) Operational and Legal Issues; and (6) Sale and Transfer of OREO.