Loan Package, Loan Approval, Loan Documentation, Loan Disbursements Flashcards
the file of all items necessary for the lender to decide to give or not give a loan
Loan Package
Information on the prospective borrower
Loan Application
Credit Report
Financial Statement
Employment Letters
Information on the Property
Appraisal
Survey
A loan used to buy a house, which finances not only the property but personal items
Package Loan
Formal Authorization to get a loan
Loan Approval
5 basic steps of the Loan Approval/ Process
- Application and Required information is gathered and submitted
- Loan underwriting
- Decision and Pre-screening
- Closing
- Post-closing
Anything which obtained for the purpose of recording line evidence while lending money
Loan Documentation
Last stage in the loan process transfer of the money from financial institution to the lender’s bank account
Loan Disbursement
It is only after the ______ of the loan that the ______ is accessible to ______ for usage
disbursal, amount, borrowers
Documents provide a financial __________ of each event or activity, and therefore ensure the _____ and ______ of transactions
record, accuracy, completeness
Proper ______ provides evidence of what has ______ as well as provides information for researching _______
Documentation, transpired, discrepancies
All necessary ______ documents prior to the _____ release/ ______ on availment should be secured
legal, initial, restructuring
______ officers should serves as _____ to the signing of all legal documents and should ____ the signature of borrowers to _______ authenticity
Account, witness, verify, ascertain
_____ signatures of all signatories should be ____ and ______
Specimen, maintained, updated
Standard ____ and _____ documents should be used as ____ of _____/ to provide support to credit _______
loan, collateral, evidences, indebtness, extensions
Principal Credit/ Lending Documents
Loan/ Line Agreement,
Receivable Financing/ Discounting Lone/ Agreement,
Restructuring Agreement
Contract between the lender and the client covering the grant of loan by the former to the latter under certain terms and conditions
Loan/Line Agreement
Core document covering the terms and conditions
Receivables Financing/ Discounting Line/ Agreement
Core document covering the Terms and conditions in instances where borrower falls to meet his maturing obligations and/or by way of payment arrangement
Restructuring Agreement
Availment Documents
Promissory Note,
Disclosure Statement
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
Promissory Note
A document disclosing to the client the details of the loans to be released
Disclosure Statement
Collateral/ Security Documents
Real Estate Mortgage
Motgage Trust Indenture
Chattel Mortgage
Assignment of Receivables
Joint and Several Signature
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
Real Estate Mortgage
A type of mortgage given to a trustee for the purpose of security numerous creditors
Mortgage Trust Indenture
Similar to REM except that the subject is chattel or personal property
Chattel Mortgage
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
Assignment of Receivables
Binds the key officers and management solidarity or severally with the principal borrower making them liable in case of default
Joint and Several Signature/ Comprehensive Surety Agreement
Documents provide a financial record of each event or activity, and therefore ensure the accuracy and completeness of transactions.
Manner of Availment
Releases may be made in the following manner:
One time/Lump sum Release
Partial Release
Exceptions, ______ or ______ from standard terms and conditions should be subject to ______
deviations, deferrals, approval
a broad topic in banking that generally involves determining loan eligibility, tracking loan documentation, and generating reports.
Loan Administration
All ________ credit obligations should be monitored closely to ensure ________ at the prescribed ______ of the loan, interest and any other _______ or _______ associated with the transaction
outstanding, prompt payment, due date, charges, expenses
All credit _____ must be monitored ________ to ensure compliance with ______, repayment schedule, and other terms and conditions governing the _______.
facilities,periodically, key covenants, facility
Borrowers with outstanding credit facilities or availments should submit the documents that are required on a ________, as stipulated in the ______.
periodic basis, loan agreement
Refer to all the documents that are related to the account.
Credit File Maintenance
