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: 19/08/01

Loan is currently 92 days past due.

Introductory Consumer Credit Quick Hitter ‐ Classified Ask students what changed: Late history & currently 92 days past due. Ask class: Pass, Criticize, Classify? And why?