Credit Evaluation School Instructor eBook - Oct 2023

People:

Borrower: Dexter Morgan Forensic Technician at Miami ‐ Metro PD W ‐ 2 income: $78M (at origination)

Purpose:

Purchase personal residence for $300M 27 years remaining on 30 ‐ year fully amortizing term loan

Payment: Protection: Problem: Prospects:

Debt ‐ to ‐ income ratio: 34% @ origination

First lien on residence LTV: 88% (at origination) Late history: 03/00/00 Monitor for slow payment

Review of Introductory Consumer Credit Quick Hitter – Pass Loan is considered to be a Pass based upon 34% debt ‐ to ‐ income ratio at origination, acceptable LTV, slow pay not serious delinquency. Ask class who is familiar with Uniform Retail Credit Classification and discuss.