Mortgage OD

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Mortgage OD Quiz

Test your knowledge on the Mortgage Overdraft (MOD) program with our engaging quiz! This quiz is designed to assess your understanding of various aspects related to property values, lending norms, and the unique guidelines surrounding the MOD program.

Answer questions on:

Property value caps
LTV and FOIR requirements
Approval processes
Use of collateral

10 Questions2 MinutesCreated by AssessingMortgage42

Whether property value cap norms as applicable for BLG cases would also be applicable in MOD?

Yes

Under MOD program, at which level below NFA to be taken for Combined LTV+FOIR is more than 140%

L1 RCH

For LTV more than norms whose approval is required?

LTV upto 10% more than norms – Head BLG Credit/Head Secured Credit

LTV more than 10% - Head CPG

Both

Can we close CC limits from the proposed MOD facility?

Yes

We give Mortgage OD to a Builder / Developer under MOD Policy?

Yes With NFA

Yes

Is cross collateralization applicable on land loan if customer is having exisitng limit of BLG with Ibank

No, Land is not an acceptable property under MOD

Yes

Can we fund MOD program with moratorium period

Yes

Under MOD program is third party property funding is allowed, if yes at which level NFA is to be marked

Yes with NFA atl L1 level

No the same can not be done. No NFA allowed on same.

For MOD cases source by RBC, property guidelines to be followed as MOD policy or as per RBC property guidelines

MOD Policy

RBC property guidelines

Both

Can we accept Cold storage property as collateral under MOD program

Yes, under Normal MOD program

Yes, under Loan against specialized properties.

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