NO LOAN DISCLOSURES IN COMMERCIAL LENDING?

[John Matthew Johnston]

Hi I am new to commercial Loans, the lender I’m working with doesn’t wanna to put anything in writing. I asked him for a loan disclosure stating the rate, lock in period And other details of the loan. He wants to give me closing information and costs but says it isn’t his Company practice to put rate, lock in period , 5 year arms etc into a document. He said his clients usually just trust him. I want it in writing so I’m protected. It it common practice to just trust commercial lenders? Am I being unreasonable ?

[H. Jack Miller]

Any real lender should be able to issue you a written term sheet with all of the terms clearly spelled out. If they won't I would move on to someone who will.  Don't "Trust" anyone in this business. Everything needs to be in writing.