Utah Admin. Code R362-5-8 - Underwriting
(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.
Notes
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