A written document in which a lender promises to make credit available to a borrower, over a designated future period, up to a maximum amount in return for a commitment fee is known as a (n): loan commitment agreement.
A bank that primarily makes its loans to individuals, families, and small businesses is categorized as: 90. The process of resolving a troubled loan so that a lender can recover its funds is called: loan workout. 91. Which of the following is a sign of a potential loan problem? 93.
Loans that examiners consider as having significant weaknesses or those represent a dangerous concentration of credit in one borrower or industry are called: A. criticized loans. B. scheduled loans.
These loans can be short term construction loans or longer term loans to finance the purchase of homes and apartments among others. real estate A(n) ______________ is a written contract signed by a borrower and states the principal amount of the loan, the interest rate on the loan, and the terms under which repayment must take place.
41. The process of loan review means that a loan committee must generally approve a loan before the borrower is told the loan is approved.
35. Retail credit in banking refers to such loans as residential mortgages and installment loans to individuals.
30. The principal reason why banks are chartered by federal and state governments is to make loans to their customers.
33. At least once in a year, banks in the United States are required to report the composition of their loan portfolio by purpose of loan on a report form known as Schedule A.
Loans to a bank's officers, extended for purposes other than purchase of a home or funding education and those that are not fully backed by government securities, cannot exceed 2.5 percent of the bank's capital and unimpaired surplus or $25,000 whichever is larger but cannot exceed $100,000.
43. Credit card loans are generally more profitable for small and medium-size banks than for the large banks.
38. Loans to minors are not legally enforceable contracts in most states.
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And if you don’t have a valid photo ID, you can bring a birth certificate, social security card, or proof of citizenship along with proof of your current address, like a utility bill in your name.
A good credit score signals to the lender you’re able to manage your money and debt. It can also reward you with substantially lower interest payments each month.
On the flip side of your assets are your financial obligations. These may include how much of your income goes towards your mortgage each month. Or, how much you pay for child or spousal support.
The majority of federal loans don’t require a credit check, and even those that do only limit borrowing if you have an adverse credit history. So if you’re borrowing federal loans and not private, you can skip ahead. You’ll still need to show Uncle Sam other student loan documents on this list, including your ID, Social Security number and tax paperwork.
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On the other hand, a low credit score, a history of not paying your bills on time or a limited credit history, can significantly lower your chances of being approved for a student loan. (With that said, you could find a cosigner with a better credit score or longer credit history who will agree to repay your debt if you fall on hard times.)
41. The process of loan review means that a loan committee must generally approve a loan before the borrower is told the loan is approved.
35. Retail credit in banking refers to such loans as residential mortgages and installment loans to individuals.
30. The principal reason why banks are chartered by federal and state governments is to make loans to their customers.
33. At least once in a year, banks in the United States are required to report the composition of their loan portfolio by purpose of loan on a report form known as Schedule A.
Loans to a bank's officers, extended for purposes other than purchase of a home or funding education and those that are not fully backed by government securities, cannot exceed 2.5 percent of the bank's capital and unimpaired surplus or $25,000 whichever is larger but cannot exceed $100,000.
43. Credit card loans are generally more profitable for small and medium-size banks than for the large banks.
38. Loans to minors are not legally enforceable contracts in most states.