SOFE
AFE · Question #187
It indicates the lender's commitment to make a loan in accordance with the terms specified either in the borrower's loan application or in the terms the company approves for the loan.
The correct answer is B. Commitment letter. See the full explanation below for the reasoning.
Question
It indicates the lender's commitment to make a loan in accordance with the terms specified either in the borrower's loan application or in the terms the company approves for the loan.
Options
- AVerification of deposits
- BCommitment letter
- CAppraisal
- DOriginal note
How the community answered
(43 responses)- A2% (1)
- B84% (36)
- C5% (2)
- D9% (4)
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