UCBH » Topics » Other Real Estate Owned

This excerpt taken from the UCBH 8-K filed Mar 16, 2009.
Other Real Estate Owned
 
Other Real Estate Owned (“OREO”) consists of properties acquired through, or in lieu of, foreclosure and is initially recorded at fair value less cost to sell at the date of foreclosure, establishing a new cost basis with any corresponding loss recorded as a reduction of the allowance for loan losses. Subsequent to foreclosure, valuations are periodically performed by management and the assets are carried at the lower of carrying amount or fair value less cost to sell. Revenue and expenses from OREO operations, subsequent write-downs, if any, and disposition gains and losses are reflected as charges to current operations.
 
These excerpts taken from the UCBH 10-K filed Mar 16, 2009.
Other Real Estate Owned
 
Other Real Estate Owned (“OREO”) consists of properties acquired through, or in lieu of, foreclosure and is initially recorded at fair value less cost to sell at the date of foreclosure, establishing a new cost basis with any corresponding loss recorded as a reduction of the allowance for loan losses. Subsequent to foreclosure, valuations are periodically performed by management and the assets are carried at the lower of carrying amount or fair value less cost to sell. Revenue and expenses from OREO operations, subsequent write-downs, if any, and disposition gains and losses are reflected as charges to current operations.
 
Other
Real Estate Owned



 



Other Real Estate Owned (“OREO”) consists of
properties acquired through, or in lieu of, foreclosure and is
initially recorded at fair value less cost to sell at the date
of foreclosure, establishing a new cost basis with any
corresponding loss recorded as a reduction of the allowance for
loan losses. Subsequent to foreclosure, valuations are
periodically performed by management and the assets are carried
at the lower of carrying amount or fair value less cost to sell.
Revenue and expenses from OREO operations, subsequent
write-downs, if any, and disposition gains and losses are
reflected as charges to current operations.


 




These excerpts taken from the UCBH 10-K filed Feb 29, 2008.
Other Real Estate Owned
 
Other real estate owned (“OREO”) consists of properties acquired through, or in lieu of, foreclosure and is carried at the lower of cost or fair value less estimated selling costs. Cost includes the unpaid loan balance adjusted for applicable accrued interest, unamortized deferred loan fees and acquisition costs. In the event that the fair value less estimated selling costs is less than cost at the time of foreclosure, the shortfall is charged to the allowance for loan losses. Subsequent write-downs, if any, and disposition gains and losses are reflected as charges to current operations.
 
Other
Real Estate Owned



 



Other real estate owned (“OREO”) consists of
properties acquired through, or in lieu of, foreclosure and is
carried at the lower of cost or fair value less estimated
selling costs. Cost includes the unpaid loan balance adjusted
for applicable accrued interest, unamortized deferred loan fees
and acquisition costs. In the event that the fair value less
estimated selling costs is less than cost at the time of
foreclosure, the shortfall is charged to the allowance for loan
losses. Subsequent write-downs, if any, and disposition gains
and losses are reflected as charges to current operations.


 




This excerpt taken from the UCBH 10-K filed Mar 1, 2007.
Other Real Estate Owned
 
Other real estate owned (“OREO”) consists of properties acquired through, or in lieu of, foreclosure and is carried at the lower of cost or fair value less estimated selling costs. Cost includes the unpaid loan balance adjusted for applicable accrued interest, unamortized deferred loan fees and acquisition costs. In the event that the fair value less estimated selling costs is less than cost at the time of foreclosure, the shortfall is charged to the allowance for loan losses. Subsequent write-downs, if any, and disposition gains and losses are reflected as charges to current operations.
 
Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki