LEC5: Nature of the Business

Maximum Score

Not scored

Prefill

Not eligible

Validation

None


Nature of the business

Assessment Instructions

Intent: What is the purpose of this indicator?

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

Input: How do I complete this indicator?

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.

Validation: What evidence is required?

Evidence not required.

Scoring

This indicator is not scored.


Was this helpful?