CC_S_206.1 Commercial/Multifamily Loan Document Fundamentals
Servicers for commercial/multifamily real estate mortgage loans must be able to understand the requirements in the loan documents. There is no substitute for checking the loan documents whenever an issue arises, even if a loan's key terms have been set up on the servicing database.
CMF Loan Document Fundamentals introduces the role the loan documents play in the commercial/multifamily real estate loan cycle. First, the course reviews the loan cycle and the loan documents generated during the various phases. Next, it shows how the borrower application and application/commitment letter form the foundation for the information contained in the loan documents. The course then explains how the loan documents become final through the pre-closing (closing checklist), closing, and post-closing (recording) processes. It describes how the documents are used by the servicer throughout the life of the loan. The course concludes with an interview with an expert in loan documentation.
This is a commercial/multifamily course.
Seat time approximately 2 hours.