What Lenders Need To Know: Increase of Standardized Loan Rejections
As the CRE market continues to tighten, the rejection of substandard loan documentation is on the rise. As lenders work to accelerate loan documentation to meet demand, they are often dealing with substandard automated loan documentation, which runs the risk of having loan documents challenged.
In today’s market, lenders are cautious and should remain cautious when looking at loan docs. This is true whether they are coming from substandard loan doc automation providers or attorneys that have created repeatable templates that are substandard unless reworked in a law practice. Cheaper is most definitely not better and the buyer should beware.
Check out the Infographic.
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