What are Wvs Financial's Business Segments?
Real Estate Lending Standards. All financial institutions are required to adopt
and maintain comprehensive written real estate lending policies that are consistent
with safe and sound banking practices. These lending policies must reflect consideration
of the Interagency Guidelines for Real Estate Lending Policies (“Guidelines”)
adopted by the federal banking agencies in December 1992. The Guidelines set
forth uniform regulations prescribing standards for real estate lending. Real
estate lending is defined as an extension of credit secured by liens on interests
in real estate or made for the purpose of financing the construction of a building
or other improvements to real estate, regardless of whether a lien has been
taken on the property.
Construction Loans. For many years, the Company has been active in originating
loans to construct primarily single-family residences, and, to a much lesser
extent, loans to acquire and develop real estate for construction of residential
properties. These construction lending activities generally are limited to the
Company’s primary market area.
Consumer Loans. The Company offers consumer loans, although such lending activity
has not historically been a large part of its business.
Commercial Loans.
Loan Fee Income. In addition to interest earned on loans, the Company may receive
income from fees in connection with loan originations, loan modifications, late
payments, prepayments and for miscellaneous services related to its loans. Income
from these activities varies from period to period with the volume and type
of loans made and competitive conditions.
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