This marked the seventh consecutive quarterly improvement in the charge off
rate, and the lowest level since second-quarter 1996.
However, a taxpayer is not required to annually charge off
and deduct partially worthless debts.
Excessive charge-off strictness means that examiners are forcing banks to charge off
loans that ultimately will be repaid, or to charge off
greater proportions of loans than ultimately will be lost on these loans.
Both transactions require the servicer to charge off
a loan when it is more than 180 days delinquent, if the servicer does not believe that any recovery could be made through foreclosure proceedings.
Doug will assist BCR to evaluate and implement strategies, manage compensation to fee, and develop key performance indicators for all facets of pre and post charge off