Most Popular Lending Content
Evidencing Joint Application Intent on Biz Loans
02/23/2004
Has anyone seen a form to be used for business credit indicating applicants' intent to apply jointly? Secondly, why doesn't the updated Fannie Mae application have such questions?
Do Commitment Letters qualify as a Preapproval?
02/23/2004
Although we have no formal Preapproval program, we do have mortgage loan officers that will provide commitment letters to an applicant if requested. Does this qualify as a Preapproval?
Signature Requirement for UCC-1
02/23/2004
Is a signature necessary on a UCC-1 filing if we have obtained the borrower's signature on the loan for that particular item? Someone had informed us that it was not necessary.
Do Not Confuse Income and Revenue
02/23/2004
If an individual or sole proprietorship obtains a business loan and has no gross annual revenue on the business venture, should the income from the owner's employment at another entity be reported for the revenue amount if it is what was used in making the credit decision?
Lien Release Timeline
02/23/2004
How many days do we have to release collateral on consumer loans (i.e. vehicle titles - deed of trust)?