Commercial Due Diligence Checklist

  Loan application, if loan seasoned less than 6 months, and any proof of income or any qualifying documentation or information.
  Borrower and co-borrower information including mailing addresses, home & work phone numbers, and social security numbers. If the payor is a corporation with a personal guaranty, please provide this information for the guarantor.
  Current servicers or sellers information to include their name as well as home and/or business telephone number(s). K seller is a corporation, provide Tax ID Number.
  Typed payment history from inception of the loan or covering the most recent 12 month period, if not available from inception (no gaps in pay history).
  Copy of the Note or Contract for Deed.
  Copy of the Mortgage or Deed of Trust including all required riders and legal description.
  Copies of any UCC filings or other security instruments securing movables.
  Current UCC Search.
  Assignment of Rents and Leases if not included in the Mortgage or Deed of Trust.
  Copy of Subordination Agreements (if applicable).
  Copies of all intervening assignments and endorsements to the note (if applicable).
  Copy of any modifications or assumptions (if applicable).
  Evidence of title (countersigned title commitment not older than 180 days or a final title policy insuring the subject lien in a first Hen position, subject only to standard exceptions).
  Note/Mtg transaction: Need mortgagee title policy or current commitment listing the insured as the assignor. Amount of insurance = current balance.
  Contract for Deed transaction: Need owner's title commitment listing the insured as "Bayview Financial Property Trust". Amount of insurance = current balance.
  Copies of Articles of Incorporation or Articles of Organization for borrower and seller, if parties are not individuals, along with a corporate resolution or other documentation reflecting who can sign on behalf of the seller and borrower and Certificate of Good Standing.
  Copies of Trust Agreements and written verification by all present trustees that the trust has not been amended or revoked (if applicable).
  Copy of probate or letters of testamentary regarding authority of signor to execute documents if seller is deceased.
  Copy of HUD-1 or other closing statement.
  Copy of Personal Guaranty (if applicable).
  Payoff statements for any underlying liens.
  Current Hazard and Commercial Liability Insurance Policy with the seller listed as mortgagee.
  Tax certificate.
  Purchase and Sale Contract.
  Operating statements (last 3 years if available).
  Current rent rolls (if rental property).
  Leases (if available).
  Property tax returns.