Credit Evaluation School Dec 2022

Reference Guide for Credit Documents

Assignment of Leases and Rents • May be a separate document or could be included in Mortgage or Deed of Trust. • Agreement allowing lender to collect rents directly from borrower's tenants, typically borrower collects rents only if loan becomes problem.

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Reference Guide for Credit Documents

Bill of Sale • Evidences cost of item being purchased. • Provides basis of value when financing recently purchased item is being financed. • Is purchase price reasonable? • Does purchase price include additional expenses?

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