Somebody who needs a loan somehow hooks up with a loan originator (aka a salesperson). If this passes the screening process and results in a check being sent in, we call it a loan application.
Then an underwriter will be assigned to engage 3rd parties (an appraiser, and engineer), and things process from there.
Ultimately, some underwriter is supposed to write the whole thing up, make a recommedation for a loan amount based on the NOI and all the other information, and then go before the loan committee.
16 comments:
I am sure I responded to this same clip yesterday, some where such or other.
My response was a Daily Show clip.
Maybe at TPM?
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You are the most responsive blog lover I have ever known.
This has absolutely NOTHING to do with the fact that I have a loan narrative I'm supposed to have finished last week.
a loan narrative
Somebody just kill me. I'm a loser.
Anyways, Sadly, No, comment one jillian and one.
I hope in my next life I'm reincarnated as a cockroach, or some other creature with dignity.
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What is a loan narrative? An application?
No, I'm an underwriter.
Somebody who needs a loan somehow hooks up with a loan originator (aka a salesperson). If this passes the screening process and results in a check being sent in, we call it a loan application.
Then an underwriter will be assigned to engage 3rd parties (an appraiser, and engineer), and things process from there.
Ultimately, some underwriter is supposed to write the whole thing up, make a recommedation for a loan amount based on the NOI and all the other information, and then go before the loan committee.
Which is like this.
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Who came up with the idea of a "narrative"? The Department of Horseshittery?
Does a loan narrative have a beginning, middle, and end?
The only NOI I know is the Nation of Islam.
A loan narrative has a middle and an end.
The beginning is in the executive summary, which I haven't even started.
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"Behold, the underwriter! I always underwrite you, but nothing underwrites me!"
From a really conservative movie.
A loan narrative has a middle and an end.
You mean a climax and a denouement?
I still don't really get it, and the Google requires me to read stuff. WHERE IS THE BRAIN UPLINK?
Is the deal just a description of events if all goes well?
A comes up with this, B assures that, so we pay out, and eventually recoup our sum and related fees?
Well I just got home.
My brain hurts.
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Now I gotta go to work again.
Maybe I'll get run over by a car before I get there.
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Just get your head runn over Thunder.
1) no more headaches
2) Right wind punditry will be yours for the asking.
This is why ITTDGY is always masked and anonymous. He's the Loan Rearranger.
I hear there's call for those in Toronto.
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