![]() The lender will conduct a credit evaluation using credit documentation procedures and underwriting processes that are consistent with generally accepted prudent lending practices and also consistent with the lender’s own policies, procedures and lending practices.What are the underwriting requirements for the loan guarantee? Reasonable and customary fees for loan origination are negotiated between the borrower and lender.There is a guarantee retention fee, currently 0.25 percent of the outstanding principal balance, paid annually.There is an initial guarantee fee, currently 1 percent of the guaranteed amount.What are the applicable fees for the loan guarantee? Variable interest rates may not be adjusted more often than quarterly. ![]()
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