Including an Application
Wednesday, February 22nd, 2006“To app or not to app, that is the question!â€
Paraphrasing Hamlet from his soliloquy, the question frequently faced in doing an equity line, or any kind of loan mailing, is whether or not to include an application in the mailing package. There are several reasons to take this route, and some solid cautions on the other side.
An application can take many forms: from the two-page, complex variety to the four-question ‘mini application,’ depending on the requirements of underwriting. But in each case, the prospect is being asked to do more work in responding to a loan offer.