When should a copy of the appraisal be given to the borrower on a commercial loan before closing?
Do you need to modify or prepare a change in terms on a commercial loan when lowering the interest rate but not changing the maturity date? Can it just be done with a maintenance request?
We have a business entity request for commercial credit and a credit report was pulled on the two owners, with the credit request denied based on one owner's credit score.
If the FCRA portion of the Adverse Action Notice is completed is that wrong?
If this is included and the score, key factors etc. are for the credit score used in making the credit decision is sent to both owners, in the name of the business entity, is that wrong?
If I am doing a loan for an LLC where two partners own 40% each and the third owns 20%, do I need any information/documentation on the third owner if he is not going to be a borrower on this loan? Would meeting minutes be required where it is decided the third owner will not be signing the loan?
How do lenders use loan pipeline reports?
What are some common use cases for notice letters in banking?
If we have a commercial purpose loan to purchase a 1-4 family home for rental, do we use the 1003 application or the standard commercial application?
How are barcodes useful to banks when scanning commercial loan documents?
What does “exception management” mean in banking?
What types of commercial loan documents are commonly “imaged”?