An application for a commercial loan would include all the following items EXCEPT:
A) information on the applicant company and the individuals involved
B) complete Financial statements and property evaluation
C) a statement of compliance with RESPA requirements
D) projection of income to show source of loan repayment

Question

Quizplus · Accepted Answer

While all other options are important components of a commercial loan application, a statement of compliance with RESPA requirements is not necessary for a commercial loan application. RESPA (Real Estate Settlement Procedures Act) is a law that applies to residential real estate transactions, not commercial loans.

An Application for a Commercial Loan Would Include All the Following