Updated over 5 years ago on . Most recent reply
Commercial lender asking for financial info for performing note?
I have a commercial loan on a residential property. The loan was originated in January 2020, and in May 2020 I got a letter requesting me to send in a personal financial statement and my 2019 tax returns to the lender.
All payments on the note have been paid in full before they were due. The loan is in the name of my company, and I personally guaranteed the note.
Is this request for info normal? I don't like it that 5 months into a 20 year mortgage, when this info was collected to originate the note, the lender is asking me to re-submit this information. Any guidance here is appreciated.