Subsequent to the Funding of a Loan, the Most Common

question 108

Multiple Choice

Subsequent to the funding of a loan, the most common document/s obtained is/are:

• A) New or updated appraisals as evidence of the current value of the property
• B) Current financial statements on the borrower or the property, if the property is income producing, as evidence of the borrower's continuing financial strength and of the property's continuing ability to produce income
• C) Periodic inspection reports as evidence of the physical condition of the property
• D) Borrower's financial statements

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Definitions:

Capital Account Balance

A measure within a country's balance of payments that records all transactions involving the acquisition or disposal of capital assets, such as securities and real estate, between residents and nonresidents.

Legal Tender

Coins and paper money officially declared to be acceptable for the settlement of financial debts.

Car Importer

A company or individual that buys foreign cars and brings them into a country to sell.

Drug Trafficking

The illegal trade involving the cultivation, manufacture, distribution, and sale of substances which are subject to drug prohibition laws.