SOFE
AFE · Question #190
Subsequent to the funding of a loan, the most common document/s obtained is/are:
The correct answer is A. New or updated appraisals as evidence of the current value of the property B. Current financial statements on the borrower or the property, if the property is income producing, as evidence of the borrower's continuing financial strength and of the property's continuing ability to produce income C. Periodic inspection reports as evidence of the physical condition of the property. See the full explanation below for the reasoning.
Question
Subsequent to the funding of a loan, the most common document/s obtained is/are:
Options
- ANew or updated appraisals as evidence of the current value of the property
- BCurrent financial statements on the borrower or the property, if the property is income producing, as evidence of the borrower's continuing financial strength and of the property's continuing ability to produce income
- CPeriodic inspection reports as evidence of the physical condition of the property
- DBorrower's financial statements
How the community answered
(50 responses)- A72% (36)
- D28% (14)
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