LEC5: Nature of the Business

bullseye Maximum Score

Not scored

pen-to-square Prefill

xmark Not eligible

shield-check Validation

None


Nature of the business

Assessment Instructions

chevron-rightIntent: What is the purpose of this indicator?hashtag

Describe the nature of the participating entity’s business. Participants should select the applicable answer.

chevron-rightInput: How do I complete this indicator?hashtag

Complete all applicable fields.

Participants must report the portfolio split by business type at the end of the reporting period.

Terminology

Loan originator

The lender that serves as the primary loan underwriter and provides proceeds to the borrower.

Loan purchaser

The party that purchases a loan or group of loans from a loan originator.

chevron-rightValidation: What evidence is required?hashtag

Evidence not required.

Scoring

This indicator is not scored.


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