The Business Purpose Anti-Steering Letter is a compliance document that certifies a mortgage loan was originated for business or investment purposes, rather than consumer use. This letter helps ensure that borrowers were not improperly directed toward a specific loan product…
A comprehensive checklist outlining the required documents Underwriting needs when the Borrower is an Entity or Trust.
ARDRI’s formal exception request form must be fully completed for the credit committee to evaluate the request, document the decision, and record the Exception Approval, Counteroffer, or Denial.
For Multi-Family (5+ Units) properties, the Pro Forma Operating Statement must be fully completed to ensure an accurate DSCR calculation. These properties typically incur additional expenses not present in 2-4 unit rental properties.
A brief Condo Questionnaire, to be completed by the HOA representative, used to assess whether a condo is warrantable or non-warrantable.
Brokers without a Loan Origination System or those needing to originate Business Purpose loans outside of their current system can use this Business Purpose Loan Application form.
A streamlined one-page document designed to specify the use of cash proceeds for Business Purpose loans.
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