Application to Extend Holding Period on Other Real Estate Owned (Oreo) - Texas

Application to Extend Holding Period on Other Real Estate Owned (Oreo) - Texas

Application to Extend Holding Period on Other Real Estate Owned (Oreo) is a legal document that was released by the Texas Department of Banking - a government authority operating within Texas.

FAQ

Q: What is an Oreo property?
A: An Oreo property refers to other real estate owned by a banking institution.

Q: Why would someone apply to extend the holding period on an Oreo property?
A: Applying to extend the holding period allows the banking institution more time to sell the Oreo property.

Q: What is the purpose of extending the holding period?
A: Extending the holding period provides the banking institution with additional time to find a buyer and potentially sell the Oreo property at a better price.

Q: Who needs to apply for an extension on the holding period?
A: Banking institutions who own Oreo properties may apply for an extension on the holding period.

Q: What is the process for applying to extend the holding period?
A: The specific process may vary, but typically the banking institution submits an application to the appropriate regulatory authority.

Q: Are there any requirements or criteria for getting an extension on the holding period?
A: Each regulatory authority may have different requirements, so the banking institution should review the specific criteria set forth by the authority.

Q: Is there a fee associated with applying for an extension on the holding period?
A: There may be a fee involved with the application process, and the banking institution should inquire about any applicable fees.

Q: What happens if the application to extend the holding period is approved?
A: If approved, the banking institution is granted additional time to sell the Oreo property before it must be classified as nonaccrual or charged off.

Q: What happens if the application to extend the holding period is denied?
A: If the application is denied, the banking institution must adhere to the original holding period and take the necessary actions as required by regulators.

Q: Can the holding period on an Oreo property be extended multiple times?
A: In some cases, it may be possible to apply for multiple extensions on the holding period, but it depends on the regulatory authority and their guidelines.

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Form Details:

  • Released on October 1, 2013;
  • The latest edition currently provided by the Texas Department of Banking;
  • Ready to use and print;
  • Easy to customize;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a fillable version of the form by clicking the link below or browse more documents and templates provided by the Texas Department of Banking.

Download Application to Extend Holding Period on Other Real Estate Owned (Oreo) - Texas

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