Purchase and sale of interests in leases.

CFR · 2024-01-01 · US · Title 12

(a) (b) (1) The types of leases in which the institution may buy or sell an interest and the types of interests which may be bought or sold; (2) The underwriting standards for the purchase of interests in leases; (3) Such limits on the aggregate lease payments and residual amount of interests in leases that the institution may buy from a single institution as are necessary to diversify risk, and such limits on the aggregate amounts the institution may buy from all institutions as are necessary to assure that service to the territory is not impeded; (4) Identification and reporting of leases in which interests are sold or bought; (5) Requirements for securing from the selling lessor in a timely manner adequate financial and other information about the lessee needed to make an independent judgment; and (6) Any limits or conditions to which sales or purchases are subject that the board considers appropriate, including arbitration. (c) (1) Identify the particular lease(s) to be covered by the agreement; (2) Provide for the transfer of lessee information on a timely and continuing basis; (3) Identify the nature of the interest(s) sold or bought; (4) Specify the rights and obligations of the parties and the terms and conditions of the sale; (5) Contain any terms necessary for the appropriate administration of the lease, including lease servicing and monitoring of the servicer and authorization and conditions for action in the event of lessee distress or default; (6) Provide for a m

official document · source cfr-2024 · id 12:§ 616.6100