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Loan Commitment

Loan Commitment

This is a discussion on Loan Commitment within the Mortgage Problems and Solutions forums, part of the Mortgage and Loans Forum category; A loan commitment is a formal offer from a lender which provides information about a loan which the lender has ...

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02-19-2011, 06:19 AM

Eugine

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Loan Commitment

A loan commitment is a formal offer from a lender which provides information about a loan which the lender has agreed to provide. Lenders must treat loan commitments as outstanding liabilities, because even if the loan has not been put through, the borrower has a reasonable expectation of collecting the funds, and thus they need to be accounted for in the bookkeeping of the lender. Information about loan commitments is usually listed in a specific area of periodic financial reports so that people reviewing the reports know how much money the lender has committed to lend.

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