Character
No Loan __________
What is "Alone?"
The term for a general rise in prices and a decrease in the purchasing power of money.
What is inflation?
A legal contract that allows a person or business to use someone else's property in return for a monthly payment.
What is a lease?
The term for a loan with no collateral.
What is unsecured?
A promise by a person to re-pay a loan of another borrower.
What is a guarantee?
(Also accept guaranty.)
Tri City's founder.
Who is David Ulrich?
A nickname for a newly formed business.
What is a start-up?
A retail strip mall with a lot of empty units is said to have a high ______ rate.
What is vacancy?
PMI
What is private mortgage insurance?
A report that lists the tenants in an income producing property.
What is a rent roll?
Assets that can be readily converted to cash.
What are liquid assets?
Credit Department Mission Statement
What is "Grow and Protect?"
The type of bankruptcy where a trustee liquidates a borrower's assets and distributes cash to creditors.
What is Chapter 7?
ARM
What is an adjustable rate mortgage?
An account that is funded each month as part of a loan payment.
What is an escrow account?
A ratio that measures the expected return on a real estate investment, computed by dividing annual cash flow by the property value.
What is the capitalization (cap) rate?
When a borrower has a significant personal stake in the success of his business or investment, it's called "Skin in the _______."
What is Game?
1963
What is the year Tri City National Bank was founded?
A credit score below 620 is considered_____
What is subprime?
A period of economic decline. . .
when the Gross Domestic Product (GDP) falls in two consecutive quarters.
What is a recession?
EBITDA
"Earnings before interest taxes depreciation and amortization"
or just
"cash flow."
A line of credit that limits funds available to the borrower based on the value of the collateral.
What is a borrowing base?
A clause in a loan contract that requires a borrower to do or not do something.
What is a covenant?
Tri City's primary regulator
What is the Office of the Comptroller of the Currency?
A ratio that measures a customer's profitability to the bank is "Relationship Return on _________."
What is Assets?
When market conditions change from
recovery,
expansion,
hyper-supply, and
recession.
. . . . And then starts over again!
What is "cyclicality" or the "real estate cycle?"
The ratio that takes total monthly loan payments divided by monthly income.
What is a debt-to-income ratio?
The section in a real estate appraisal that values a property using sales data of similar properties.
What is the sales comparison approach or "sales comps"?
A strong guarantor exhibits both ability and _________ to support the loan, if necessary.
What is willingness?
Team sport that is part basketball and part bumper cars.
What is Whirlyball?