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Author Question: The lender's specific requirements that must be observed in connection with the loan documents ... (Read 48 times)

Beheh

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on: Aug 3, 2018
The lender's specific requirements that must be observed in connection with the loan documents before the attorney or closing agent may be authorized to record documents and disburse the loan funds is the:
 
  a. Recordation and disbursement letter
  b. Good faith letter
  c. Closing instruction letter
  d. Loan commitment letter

Question 2

Distinguish between a condition and a covenant.
 
  What will be an ideal response?


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jazzlynnnnn

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Reply #1 on: Aug 3, 2018
Answer to Question 1

C

Answer to Question 2

A condition is a fact or event, the happening or nonhappening of which creates or
extinguishes an absolute duty to perform, and a covenant is that absolute duty.


Beheh

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Reply #2 on: Aug 3, 2018
Thanks


jazzlynnnnn

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Reply #3 on: Aug 3, 2018
Welcome :)


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