How should System institutions document whether the borrower had the financial resources to avoid foreclosure?

CFR · 2024-01-01 · US · Title 12

The right of first refusal applies only to borrowers who did not have the financial resources to avoid foreclosure or voluntary conveyance. A System institution must clearly document in its files whether the borrower had the resources to avoid foreclosure or voluntary conveyance.

official document · source cfr-2024 · id 12:§ 617.7605