Tag: Commitment Letter

The Art and Science of a Bank Commitment Letter

More efficient loan closings

In our quest for a more streamlined loan process, one point of friction was the lack commitment letter presentation or understanding. The commercial loan commitment letter bridges the time between loan approval and loan closing. Bankers do a good job at using the commitment letter for its primary purpose, namely to contractually obligate the borrower. According to our Loan Command Pipeline Management statistics, bankers use a commitment letter about 85% of the time.

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