Numbers
This tickler is for our title department's report to follow up/track down the final title policy after the loan has closed.
What is a 3A?
We commonly see these pop up on a title commitment. Land Title's website provide the most common circumstances for one.
I.e. Significant Renovation or New Construction, Owners Extended Coverage, Large Acreage, Unusual Terrain, Complicated Legal Descriptions, Most Commerical Properties, Vacant lots, or Areas with Known Issues.
What is an ILC/Improvement Location Certificate?
FirstBank's lending guidelines which set the terms on how and to whom it will loan funds.
What is loan policy?
This team member, I dare say, is everyone's go to point to for errant loan and/or question, while smiling, shaking their head at our shenanigans.
Who is Adam?
This is the most common business type we work with. Currently, they make up roughly 60% of all "borrowers" in LRM. 259 out of 430.
What is an LLC?
In AZ, this fee is incurred per requested update, I.e. updated effective date.
What is $100? It is per the number of lot books.
It allows businesses can enter into contracts with confidence that the terms will be enforced in the same way by the courts of every American jurisdiction. The resulting certainty of business relationships allows businesses to grow and thus be called "the backbone of American commerce."
What is UCC/ Uniform Commercial Code?
The general name of the location loan policy is found. The name got the top votes a few years from a company-wide contest.
What is the Cube?
This team member recently discovered a new passion for Home Depot and Lowes. It pairs well with a home built in the 1920's.
Who is Jackson?
Christine has the privilege and accuracy to help Tony cool off and swim in last week's BBQ after this many attempt.
What is the first try?
An IRA plan review by LR is good for these many years.
What is 2 years?
The purpose of this regulation was to ensure banks establish prudent policies concerning lending against real estate. It also establishes maximum regulatory loan-to-value limits for different types of loan categories secured by real estate. In addition, there are limitations in the amount of loans that a bank can have that exceed these loan-to-value limits.
What is FDICIA? (Felisha's older sister)
A section or table of additional matter at the end of a document. FirstBank's versions are more helpful and useful than it's human brother from another mother.
What is an appendix?
This team member worked on a construction loan for a 5Bd/6Ba single family residence in Boulder. It boasts 5,627 sf, a rooftop deck, high end mountain modern style, European oak engineered flooring, custom white oak textured cabinets, and natural stone and contemporary tile.
Who is Billy and/or Ally?
This idea was pitched by Laura at the beginning of the month. Isaac called on the scarecrow, Andy called the house, Ally called the dog, LaurieAnne called the lollypops!
What is Wizard of Oz for our department Halloween theme?
This is last week's (8/12 - 8/16) weekly average turn time count of days for a CRE and BL loan.
These three letters may be used three different ways. Two of the three are almost identical. I pray for my fingers the day when all three are needed in one conversation.
What is PCR?
- PreClose Review
- Property Condition Report
- Post Close Review
There are this many chapters cover Introduction to Construction Lending.
What is 13?
This team member worked for King Soopers for 8 years prior to FirstBank.
Who is Christine?
Right now, on Confluence, Jackson and others, have this many stand alone confluence pages detailing how to work different non-real estate collateral types.
What is 14?
This is the date our team's Barffield was booked with drunk and disorderly conduct after just one small adult beverage. Tony/Kyle even noticed his "good behavior" in an early Q1 WebEx meeting.
What is 1/1/2024?
This is a rare loan structure for FB. It was designed to offer a competitive long-term, fixed-rate loan alternative to commercial customers to finance commercial income-producing properties.
Google's explanation: a financial contract in which two parties agree to exchange distinct cashflows for a given period of time.
What is SWAP? (Google's insight: Interest Rate Swap)
Loan policy is used by a lot of people at FirstBank. As of 8/21, the Cube has counted this many views for the Loan Policy pages. (An estimation is acceptable.)
What is 217,855?
This team member should be your go to for recommendations for tea, board games and/or creepy crawlies.
Who is Kaitlin?
As of 8/21 at 10:45am, this is the total amount of dollars FB is lending on a Commerical loan.
The closest estimate will be allowed.
What is $1,006,091,604.90?