Trust Examiner School eBook

c) a list of expired property insurance on mortgaged property, or other real property held as assets, unless liability thereon is covered by blanket insurance; d) a statement of the department's policy/practice concerning employment of agents in the operation or management of real estate owned in fiduciary accounts. If such agents make cash collections, describe procedures for monitoring the receipt of the funds. e) a list of pending foreclosures involving mortgages held as trust assets; f) a list of real estate held by accounts on which there exist delinquencies in rental income; and g) a list of real property held in any fiduciary account, that is leased to the bank, an affiliate, or to any director, officer, or employee. Earnings 49. Provide the trust department income (by product line, if available) and expenses on a calendar basis for the last 3 years and for the year-to-date. Also, include information on surcharges, losses, fees waived, charge-offs, and recoveries. Items of less than $100 may be grouped. 50. Provide a list of accounts on which no fees or commissions are charged, including the reasons therefore. 51. Provide a list of client fees billed but unpaid for six months or more. 52. Provide a copy of the current fee schedule. Describe briefly the procedures for approving exceptions to the schedule. 53. Describe the department's new business development efforts, including types of business solicited, minimum dollar size of accounts that will be accepted, nature of new business efforts, competition, market potential and projected growth. Personal Trusts and Estates 54. Provide a list of accounts for which accountings have not been filed with courts, beneficiaries, or other parties holding authority to release the bank from liability. 55. Provide a list of estates that remain open for a period exceeding 18 months and where the institution has not filed an accounting.

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