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Oklahoma Administrative Code (Last Updated: March 11, 2021) |
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TITLE 85. State Banking Department |
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Chapter 10. Supervision, Regulation and Administration of Banks, Trust Companies, and the Oklahoma Banking Code |
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Subchapter 11. Substantive Guidelines and Restrictions |
SECTION 85:10-11-3. Real estate lending
Latest version.
- (a) Definition of "real estate". For the purposes of Section 803 of the Code and this section, the term "real estate" includes, but is not limited to, condominiums, leaseholds, cooperatives, land sale contracts and construction and development projects.(b) Compliance. In making real estate loans pursuant to Section 803 of the Code and this section, banks must comply with all applicable laws and regulations, including those pertaining to disclosure, reporting, documentation and public protection.(c) Safety and Soundness. The safety and soundness of a bank's real estate lending activities shall be evaluated, as all other lending activities, with respect to prudence, loan quality, concentrations, policy adherence and other areas of supervisory concern. Real estate loans having excessive risk of nonpayment shall be classified by examiners. Additionally, examiners shall list as technical exceptions those loans having deficiencies in documentation.