Loan Application Processing generally follows the pre-qualification and preliminary package review as follows:

• Point Center sends the borrower a Letter of Interest outlining the general terms under which the request will be processed.
• Borrower signs and returns the Letter of Interest.
• Point Center will send the borrower a Loan Placement and Fee Agreement together with a Loan Application Package for completion. The Loan Application Package is accompanied by a letter requesting the borrower to gather certain relevant documentation to return with the completed forms.
• Borrower signs the Loan Placement and Fee Agreement, completes the Loan Application Package forms and delivers them to Point Center along with the documentation required.
• Point Center further reviews the file and determines whether it is acceptable for processing.
• If so, Point Center orders required reports such as the appraisal (paid for directly by the borrower), environmental reports as required, preliminary title report and credit reports.
• Verifications are performed as necessary. Documentation content is reviewed for adequacy.
• During processing, additional items/conditions may be required to assemble enough verified information to adequately prepare a Loan Summary for private investor review.
• When it is determined that the package is substantially complete, it is given to the underwriter to prepare a Loan Summary to include in a Material Disclosure Package for distribution to private investors.

NOTE: If the Borrower is an entity such as a corporation, limited liability company, or partnership, Point Center will typically fully process and verify the legal formation and financial position of any such entity and their underlying sponsors.

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