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Probe the Borrower’s Reason for Seeking a Loan

Scotsman Guide

By Jason E. Goldstein & Jack Suddarth
Published in Scotsman Guide 

Originators who work with private money lenders need to understand how the money will be used

Private money lenders predominately originate what are commonly referred to as business-purpose loans, usually secured by the value of a parcel of real estate. There’s another type of loan out there. It’s the consumer-purpose loan.

To view the full article, click here.

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