Lendistry Services

Question 1

What is the Loan Closing process at Lendistry?

Answer 1

This process includes:
1. reviewing and preparing loan documents,
2. coordinating with title and escrow agents,
3. overseeing the closing team,
4. disbursing loan proceeds, and
5. ensuring post-closing compliance

Question 2

What can a loan package include?

Answer 2

1. Credit memo
2. Account details
3. Repayment schedule
4. Operating agreements
5. Draw schedule
6. Collateral information
7. ID verification checks

Question 3

What is Loan Document Generation?

Answer 3

Upon receipt of the comprehensive loan package and detailed loan information, Lendistry can generate loan documents and prepare them on behalf of the client/partner, the lender of record.

Question 4

What is a loan tape?

Answer 4

a collection of files that contain data about a financial institution’s lending products. It’s a snapshot of a company’s credit portfolio information, and is often a database extract or spreadsheet.

Question 5

What are some other names for a loan tape?

Answer 5

Loan tapes are also known as:
Loan data tapes, Loan exposures tapes, Servicing tapes, Loan-by-loan files, and Collateral feeds.

Question 6

What information can loan tapes contain?

Answer 6

Customers (including their geography, industry and FICO scores), Receivables, (including their history and outstanding balances), Principal and interest repayment amounts and dates, and Delinquency status

Question 7

What is often required by fintechs when they’re looking to raise and manage debt capital, and can they also be used by consulting firms during asset-backed loan inspections?

Answer 7

Loan tapes