7.2.18: ValueXpress Revises Loan Document Checklist Required for a Loan Quote

Borrowers have two options to receive a loan proposal for a CMBS conduit loan. The first option is to request a Summary of Certain Indicative Terms, which is a one-page summary of the proposed loan terms that has not been through a complete credit review process, but has a high likelihood that the transaction would be approved consistent with the Indicative Terms. The benefit of a request for Indicative Terms is that Indicative Terms can be provided with less information from the borrower. However, the borrower cannot proceed to close the loan without completing the credit approval process outlined in the second option.

To obtain a Summary of Indicative Terms, click here.

The second option is to provide additional information to allow the transaction to be fully underwritten, which results in a credit-approved Term Sheet for the borrower to execute and proceed through the closing process.

To obtain a credit-approved Term Sheet, click here.

When submitting a loan to ValueXpress, please indicate whether you want a Summary of Indicative Terms or a credit-approved Term Sheet. Questions? Please click here to contact a ValueXpress representative.

 

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This entry was posted in CMBS, CMBS Conduit Loans, Commercial Lending, Commercial Mortgage-Backed Securities, Commercial Real Estate Loans, Michael D. Sneden, News & Recent Closings, The Banker's Mortgage Conduit, Valuexpress and tagged , , . Bookmark the permalink.

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