Loan Package, Loan Approval, Loan Documentation, Loan Disbursements

Question 1

the file of all items necessary for the lender to decide to give or not give a loan

Answer 1

Loan Package

Question 2

Information on the prospective borrower

Answer 2

Loan Application
Credit Report
Financial Statement
Employment Letters

Question 3

Information on the Property

Answer 3

Appraisal
Survey

Question 4

A loan used to buy a house, which finances not only the property but personal items

Answer 4

Package Loan

Question 5

Formal Authorization to get a loan

Answer 5

Loan Approval

Question 6

5 basic steps of the Loan Approval/ Process

Answer 6

1. Application and Required information is gathered and submitted
2. Loan underwriting
3. Decision and Pre-screening
4. Closing
5. Post-closing

Question 7

Anything which obtained for the purpose of recording line evidence while lending money

Answer 7

Loan Documentation

Question 8

Last stage in the loan process transfer of the money from financial institution to the lender’s bank account

Answer 8

Loan Disbursement

Question 9

It is only after the ______ of the loan that the ______ is accessible to ______ for usage

Answer 9

disbursal, amount, borrowers

Question 10

Documents provide a financial __________ of each event or activity, and therefore ensure the _____ and ______ of transactions

Answer 10

record, accuracy, completeness

Question 11

Proper ______ provides evidence of what has ______ as well as provides information for researching _______

Answer 11

Documentation, transpired, discrepancies

Question 12

All necessary ______ documents prior to the _____ release/ ______ on availment should be secured

Answer 12

legal, initial, restructuring

Question 13

______ officers should serves as _____ to the signing of all legal documents and should ____ the signature of borrowers to _______ authenticity

Answer 13

Account, witness, verify, ascertain

Question 14

_____ signatures of all signatories should be ____ and ______

Answer 14

Specimen, maintained, updated

Question 15

Standard ____ and _____ documents should be used as ____ of _____/ to provide support to credit _______

Answer 15

loan, collateral, evidences, indebtness, extensions

Question 16

Principal Credit/ Lending Documents

Answer 16

Loan/ Line Agreement,
Receivable Financing/ Discounting Lone/ Agreement,
Restructuring Agreement

Question 17

Contract between the lender and the client covering the grant of loan by the former to the latter under certain terms and conditions

Answer 17

Loan/Line Agreement

Question 18

Core document covering the terms and conditions

Answer 18

Receivables Financing/ Discounting Line/ Agreement

Question 19

Core document covering the Terms and conditions in instances where borrower falls to meet his maturing obligations and/or by way of payment arrangement

Answer 19

Restructuring Agreement

Question 20

Availment Documents

Answer 20

Promissory Note,
Disclosure Statement

Question 21

An unconditional promise in writing made by one person to another, signed by the maker, engaging to pay on demand or at a fixes or determinable future time a sum certain in money to order or to bearer

Answer 21

Promissory Note

Question 22

A document disclosing to the client the details of the loans to be released

Answer 22

Disclosure Statement

Question 23

Collateral/ Security Documents

Answer 23

Real Estate Mortgage
Motgage Trust Indenture
Chattel Mortgage
Assignment of Receivables
Joint and Several Signature

Question 24

A contract by which a client or third party mortgagor secures in favor of the lender the fulfillment of principal obligation subjecting as security immovable

Answer 24

Real Estate Mortgage

Question 25

A type of mortgage given to a trustee for the purpose of security numerous creditors

Answer 25

Mortgage Trust Indenture

Question 26

Similar to REM except that the subject is chattel or personal property

Answer 26

Chattel Mortgage

Question 27

A bilateral contract whereby one person transmits to another his rights, title, interests and actions against a third person either by way of payment or as a security

Answer 27

Assignment of Receivables

Question 28

Binds the key officers and management solidarity or severally with the principal borrower making them liable in case of default

Answer 28

Joint and Several Signature/ Comprehensive Surety Agreement

Question 29

Documents provide a financial record of each event or activity, and therefore ensure the accuracy and completeness of transactions.

Answer 29

Manner of Availment

Question 30

Releases may be made in the following manner:

Answer 30

One time/Lump sum Release
Partial Release

Question 31

Exceptions, ______ or ______ from standard terms and conditions should be subject to ______

Answer 31

deviations, deferrals, approval

Question 32

a broad topic in banking that generally involves determining loan eligibility, tracking loan documentation, and generating reports.

Answer 32

Loan Administration

Question 33

All ________ credit obligations should be monitored closely to ensure ________ at the prescribed ______ of the loan, interest and any other _______ or _______ associated with the transaction

Answer 33

outstanding, prompt payment, due date, charges, expenses

Question 34

All credit _____ must be monitored ________ to ensure compliance with ______, repayment schedule, and other terms and conditions governing the _______.

Answer 34

facilities,periodically, key covenants, facility

Question 35

Borrowers with outstanding credit facilities or availments should submit the documents that are required on a ________, as stipulated in the ______.

Answer 35

periodic basis, loan agreement

Question 36

Refer to all the documents that are related to the account.

Answer 36

Credit File Maintenance