Mortgage OD
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
Whether property value cap norms as applicable for BLG cases would also be applicable in MOD?
Yes
No
Under MOD program, at which level below NFA to be taken for Combined LTV+FOIR is more than 140%
L1 RCH
L2
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
No
We give Mortgage OD to a Builder / Developer under MOD Policy?
Yes With NFA
No
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
No
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.
No
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