Loans and Discounts; Proved Methods That Build Business--Tested Time-Saving Systems and Records for Loans of Every Sort--Lending Profitably to Farmers - Softcover
Synopsis
This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1918 edition. Excerpt: ...and the recording references to the mortgage are then recorded in the bank's or company's mortgage register. The collection of interest and other details incident to handling the mortgage and loan will be described in Chapter XIII. This outline on appraising and handling applications for farm mortgage loans gives a hint of the detail involved in dealing with applications. Scarcely any two applications are alike in all particulars and the methods of inspection and appraisal likewise usually vary in the same way. For example, two southern banks, located in the same city and making loans in the same district, use application blanks that are widely different. One requires the prospect borrower to answer all detailed data under these heads: 1. Location 2. Acres and crops, character and topography of the land, color of the soil, kind of timber 3. Title, terms of purchase 4. Drainage, levees, and tiles 5. Water and fences 6. Value of land 7. Value of buildings, and so on 8. Insurance, and so on 9. Valuations 19. Live stock and fertility 11. When not occupied by owner 12. Encumbrances 13. Taxes 14. Other real estate owned 15. Personal The main headings of the other blank are: 1. Security 2. Character and description of land 3. Buildings and insurance 4. Products 5. Stock and implements owned by borrower 6. Occupation 7. Market and neighborhood 8. General 9. Statement 10. Sundries On page 4 of the application, the following agreement covers a number of significant items in the negotiation of a loan: The undersigned does hereby agree to pay the traveling expenses of a representative of said Mercantile Trust Company to inspect this property. Same not to exceed $ (check for this amount must accompany application). Also (if this application is...
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