A large real estate investor has payments overdue 120 days on their $2 million loan. The property, held as collateral, is valued at $4 million.

Select one:

a.

This loan would be classified as impaired because payments are more than 90 days past due

b.

This loan would be classified as impaired because the property market is falling.

c.

This situation could be described as mild financial distress.

d.

none of the listed options are true