Other Real Estate Owned Policy
The purpose of this Other Real Estate Owned Policy Template is to address how a bank, credit union, or other type of financial institution effectively governs the acquisition, holding, maintenance, and disposition of Other Real Estate Owned (OREO/REO) that is consistent with financial reporting requirements, in accordance with risk management principles in supervisory guidance issued by federal regulatory banking agencies, and all applicable laws, rules and regulations.
Table of Contents
- Purpose and Contents – Topic 1
- Policy Statement – Topic 2
- Risk Management – Topic 3
- Holding Period – Topic 4
- Accounting – Topic 5
- Appraisals and Evaluations – Topic 6
- Management and Disposition – Topic 7
- Concentrations – Topic 8
- Environmental Risk Management – Topic 9
- Regulatory Risk Rating – Topic 10
- Property Disposition Alternatives – Topic 11
- Expenses, Taxes and Insurance – Topic 12
- Audit Policy – Topic 13
- Staff Training – Topic 14
- Retention of Documentation – Topic 15
Recent updates to this product:
OCC Bulletin 2020-79 – Revised Other Real Estate Owned Booklet
OCC Final Rule – Other Real Estate Owned and Technical Amendments
Current Expected Credit Losses (CECL) Accounting Standard
OCC Bulletin 2018-26 – Revised Other Real Estate Owned Booklet
Federal Reserve Consumer Affairs Letter CA 18-4 – Restoration of Protecting Tenants at Foreclosure Act of 2009
This Other Real Estate Owned Policy Template (approximately 45 pages) is available to purchase from BankPolicies.com in Microsoft® Word format.
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