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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Not really. Posted by CC in OC on April 19, 2008 at 6:58 PM In Reply to: Re: i understand both sides posted by hard money lender on April 19, 2008 at 6:25 PM * isnt that pretty much what i said? * Well, no. An underwriter isn't going to read an entire trust agreement to get the gist of what the trust is trying to accomplish. Therefore, s/he would send it to the legal department, which doesn't have the TIME, either. In other words, it's just too much damn time and trouble--not a lack of understanding--to lend to trusts. Underwriters are expected to spend no more than 45 minutes or so underwriting a file. If they spent that much time just reading a trust agreeent, they'd get too far behind to do any good at all. Solution? No trusts. (I'm giving you the explanation that was once given to me by an underwriter.) Follow Ups: Re: Not really. hard money lender 7:13 PM, 04/19/08 (1) Have it your way. CC in OC 12:20 AM, 04/20/08 (0) Post a Followup: Name : E-Mail : Subject : Comments: : * isnt that pretty much what i said? * : Well, no. An underwriter isn't going to read an entire trust agreement to get the gist of what the trust is trying to accomplish. Therefore, s/he would send it to the legal department, which doesn't have the TIME, either. In other words, it's just too much damn time and trouble--not a lack of understanding--to lend to trusts. : Underwriters are expected to spend no more than 45 minutes or so underwriting a file. If they spent that much time just reading a trust agreeent, they'd get too far behind to do any good at all. Solution? No trusts. (I'm giving you the explanation that was once given to me by an underwriter.) [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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