Identifying and Mitigating Risks in Private Lending
In this Broker educational series, we sit down with Funding’s Senior Credit Manager, Arrin Bowker, to discuss what is paramount in a private lending loan application.
The quality of the initial application often dictates the speed of loan approval and settlement. To help brokers and borrowers, Arrin outlines the vital elements of an application and discusses the initial conversation that needs to occur to ensure all parties are across the loan and its purpose.
This video is part four of a six-part series. Here, Arrin explains how important it is for brokers and borrowers to not only outline any risks involved with their application but also provide corresponding mitigants.
By succinctly outlining any risks and mitigants in the initial application, brokers are best positioning the deal for a quicker settlement. Our credit team will always look at an application with a common sense approach, so borrowers should not avoid submitting a deal because of the associated risks, providing they have a comprehensive mitigation strategy.
Stay tuned as we release the following videos to sharpen your private lending skills and submit high-quality applications.
Video 5 – Determining the Registered Owners on Title
Video 6 – How to show Tested Servicing
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