In establishing and maintaining its records pursuant to § 390.350, each State savings association should establish and maintain loan documentation practices that:
Ensure that the institution can make an informed lending decision and can assess risk on an ongoing basis;
Identify the purpose and all sources of repayment for each loan, and assess the ability of the borrower(s) and any guarantor(s) to repay the indebtedness in a timely manner;
Ensure that any claims against a borrower, guarantor, security holders, and collateral are legally enforceable;
Demonstrate appropriate administration and monitoring of its loans; and
Take into account the size and complexity of its loans.
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