The Loan Review Department will select a sample of loans to evaluate. In some cases, samples will be selected at the start of each quarter and then reviewed during the quarter. In other cases, a sample of commercial real estate loans may be selected at one time, later a sample of C&I loans may be selected, and at another time asset based lending loans may be selected.
In each case, the Loan Review Department may wish to have reports that document the review of each loan that contain information about the loan as it existed at the time the sample was selected rather than current information. Madison addresses this by creating a snapshot of data as of the date that the sample was selected. That way loan review reports can contain information about the loan as of the date the sample was selected, or as of the current date, or both. This feature affords greater flexibility in documenting and saving the findings of each review.