Any commercial lender must be aware that underwriting can be risky if not correctly done. The interpretations of written agreement terms, after-acquired interests, and state law ought to be understood. Understanding the 45-day rule can be of substantial help. What is underwriting? It is a process where
4506T Form provides a complete record of a business’ financial history and present condition. For example, Form 1120-S contains a brief overview of a corporation’s income, profits and losses. There are income verification companies, such as Private Eyes that retrieve a tax transcript directly form
Have you heard of the 45-day rule? Well, most people have come across it, even though understanding it in depth can be complicated. It presents numerous aspects that include agreement terms, state law, Internal Revenue Code, and many others. Understanding the 45-Day rule The rule indicates that
Commercial lenders must grapple with fighting synthetic identity fraud. It is one of the recent trends most fraudsters use to get away with their malicious acts. With this strategy, at least $6 billion is lost per year. Synthetic identity fraud It is a process that involves the
Dealing with borrowers, connecting with lenders, and brokering home loans is difficult, to begin with. But the act of finding referrals in a post-pandemic world makes it even more stressful. Sourcing reliable clients for your mortgage business is not impossible. By focusing on tried-and-tested strategies, you