Prescribed services and activities of savings and loan holding companies.

CFR · 2024-01-01 · US · Title 12

(a) (b) (1) Originating, purchasing, selling and servicing any of the following: (i) Loans, and participation interests in loans, on a prudent basis and secured by real estate, including brokerage and warehousing of such real estate loans, except that such a company or subsidiary shall not invest in a loan secured by real estate as to which a subsidiary savings association of such company has a security interest; (ii) Manufactured home chattel paper (written evidence of both a monetary obligation and a security interest of first priority in one or more manufactured homes, and any equipment installed or to be installed therein), including brokerage and warehousing of such chattel paper; (iii) Loans, with or without security, for the altering, repairing, improving, equipping or furnishing of any residential real estate; (iv) Educational loans; and (v) Consumer loans, as defined in § 160.3 of this title, (2) Subject to the provisions of 12 U.S.C. 1468, furnishing or performing clerical accounting and internal audit services primarily for its affiliates; (3) Subject to the provisions of 12 U.S.C. 1468, furnishing or performing the following services primarily for its affiliates, and for any savings association and service corporation subsidiary thereof, and for other multiple holding companies and affiliates thereof: (i) Data processing; (ii) Credit information, appraisals, construction loan inspections, and abstracting; (iii) Development and administration of personnel benefit p

official document · source cfr-2024 · id 12:§ 238.53