Stash026 Posted December 15, 2014 Posted December 15, 2014 I have a client that would like to restrict the availability to loans for one of two reasons: Purchase of a home College tuition Has anyone had a client restrict loans to this degree? Is it allowed? Thanks in advance for your help!
Lou S. Posted December 15, 2014 Posted December 15, 2014 No haven't had a client do it. Yes it is allowed. I would assume it would be subject to BRF testing.
BG5150 Posted December 15, 2014 Posted December 15, 2014 BRF testing would pass, I think, as everyone has the ability to either purchase a home and/or attend college. QKA, QPA, CPC, ERPATwo wrongs don't make a right, but three rights make a left.
david rigby Posted December 15, 2014 Posted December 15, 2014 ... everyone has the ability to ... attend college. OK, in theory. I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.
BG5150 Posted December 16, 2014 Posted December 16, 2014 Well, how else could the provision fail BRF? QKA, QPA, CPC, ERPATwo wrongs don't make a right, but three rights make a left.
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