R362-5-8. Underwriting  


Latest version.
  •   (1) The third-party lender and property owner negotiate financing terms and conditions.

      (a) Third-party lenders establish their own financial underwriting standards and make their own determination about whether to invest in a project, on a per project basis.

      (b) Once the underwriting process is complete, the third-party lender may issue a conditional approval or financial commitment letter outlining the terms of the financing, including any conditions of closing.