corporate guarantee, 199–200
corporations, 197–200
correspondent relationships, 15–16
cost, 29
cost value, 96–97
co-tenancy, 184–188
credit card balances, 112
credit companies, 23
credit ratings (of bonds), 19
credit references, 126–128
credit reports, 108
credit score and history, 108–116
adverse credit conditions for, 110–111
collections and delinquent accounts
in, 113–114
and foreclosures/bankruptcies/
summary judgments, 114–116
and high credit balances, 111–113
issues in, 108–110
and late payment history, 111
credit unions, 17
creditworthiness, see financial strength
and creditworthiness
current assets, 89
date of acquisition, 158
DBA (doing-business-as), 189
debt, personal, 112
debt coverage ratio (DCR), 78
debt ratings, 23
debt service, 100
debt service coverage ratio (DCR), 38,
41–42
declining schedule, 32–33
deeds of trust, 2
defeasance, 32
Delegated Underwriting and Servicing
(DUS) lenders, 22
delinquent accounts, 113–114
demographic information, 61–62
206
Index
Deposit Insurance Fund (DIF), 17
description of property, 157
DIF (Deposit Insurance Fund), 17
disposable income, 116
doing-business-as (DBA), 189
double taxation, 192, 198–199
drive-by inspections, 134
DUS (Delegated Underwriting and
Servicing) lenders, 22
effective gross income (EGI), 38, 169
English common law system, 4
entities
borrowing, see borrowing entities
individual, 177
legal, xx–xxi, 177, 179–180, 185
single-asset, 109, 188–189
special-purpose, 109, 188–189
equity information, 164–166
equity participation, 28–29
escrows, 172
exclusive correspondent relationships,
15
executive summary section (loan
request package), 47–58
borrower in, 58
financial summary in, 57–58
property description and location in,
53–57
purpose of loan request in, 48–52
sources and uses in, 52–53
expense categories, 74
expense reimbursements, 65, 67
experience, see real estate experience
experience narratives, 131, 141–142
Fair Isaac Corporation, 108, see also
FICO scores
Fannie Mae, 21–22, 147–151, 187–188
Federal Deposit Insurance Corporation

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