0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
What are the 3 Cs of lending?
# Credit - can the borrower display a history of creditworthiness # Capacity - can the borrower's current financial situation (income and expenses) support repayment of the debt according to the contract terms # Collateral - does the collateral being offered (in the case of a mortgage, this is the home itself) have enough intrinsic value to protect the lender's interests in case of borrower default
What is the meaning of corporate advance on a mortgage?
A corporate advance on a mortgage is a payment for a service related expense that is owed by the borrower. These expenses may include such things as foreclosure expenses, attorney fees, and bankruptcy fees.
What is financial credibility?
Your creditworthiness.
Why is being nosy a good thing for a banker to have?
A nosy banker may indicate a desire to further determine the overall risk of a borrower beyond that of conventional standards. This nosy banker may be quick to question the initial merits of a borrower, and their subsequent prying of information may help to ascertain whether the borrower has met the standards that the financial institution has set forth in determining creditworthiness. Enhanced underwriting standards of the nosy banker may have prevented the current global financial crisis.
Are The SBA 504 Loans Assumable?
Yes, as long as the SBA have an opportunity to check both corporate and private financial information at the proposed borrower(s) in advance of the sale. One note of caution: the release of the original borrower’s personal guarantee isn't automatic with a loan assumption.
Which of these are often assessed at a flat tax rate?
state corporate income taxes
What are the 3 Cs of lending?
# Credit - can the borrower display a history of creditworthiness # Capacity - can the borrower's current financial situation (income and expenses) support repayment of the debt according to the contract terms # Collateral - does the collateral being offered (in the case of a mortgage, this is the home itself) have enough intrinsic value to protect the lender's interests in case of borrower default
What is the meaning of corporate advance on a mortgage?
A corporate advance on a mortgage is a payment for a service related expense that is owed by the borrower. These expenses may include such things as foreclosure expenses, attorney fees, and bankruptcy fees.
What is financial credibility?
Your creditworthiness.
Why is being nosy a good thing for a banker to have?
A nosy banker may indicate a desire to further determine the overall risk of a borrower beyond that of conventional standards. This nosy banker may be quick to question the initial merits of a borrower, and their subsequent prying of information may help to ascertain whether the borrower has met the standards that the financial institution has set forth in determining creditworthiness. Enhanced underwriting standards of the nosy banker may have prevented the current global financial crisis.
What three types of information do creditors use to determine a prospective borrower's creditworthiness?
well, theres corinary, which is how many of your family members are alive, and what their jobs are. theres resiedntial, where you live and how you live. and the personality clause, which is weather you creditor likes you enough to lend the money
What are the 3c's of credit?
The 3 C's of credit are character (credit history and reputation), capacity (financial ability to repay debt), and collateral (assets that can be used to secure a loan). Lenders use these factors to evaluate a borrower's creditworthiness when deciding whether to approve a loan.
Are The SBA 504 Loans Assumable?
Yes, as long as the SBA have an opportunity to check both corporate and private financial information at the proposed borrower(s) in advance of the sale. One note of caution: the release of the original borrower’s personal guarantee isn't automatic with a loan assumption.
Can a cosigner take the car away from the borrower if he is in default and the cosigner has a key and is paying the payments?
Bill, ONLY if the co-signor is listed ON THE TITLE as CO-OWNER. Co-signors only responsibliity is to make the notes if the signor doesnt. Signor is just USING co-signors creditworthiness.
What is S and P CASI?
S and P CASI stands for Standard and Poor's Corporate and Government Ratings Access Service. It is a research service provided by S&P Global Market Intelligence that offers credit ratings, research, and data on corporate and government entities. It helps investors, analysts, and professionals assess the creditworthiness and risk associated with these entities.
Can you tell me what corporate advance means from a mortgage company?
Corporate Advance: a charge made to a borrower's account to protect the lender's / investor's interest in a property (e.g. property inspection, comparative market analysis, attorney fees, etc.). This fee is later recouped by the lender.
How can you get a loan with no job and no collateral?
Creditworthiness or government guarantee.
