Planning To Borrow

Summary/Review: "This book provides reader with a detailed understanding of the lending process and the major types of consumer credit available in the marketplace. The book is written from both lender and borrower's perspective and is for students studying to enter the financial services sector. As lending officers, students will acquire skills in credit application processing and analysis and also learn how to identify client needs and match needs with the appropriate credit products. As financial advisors, students will learn the pros and cons of the various types of credit product and be able to offer planning techniques and borrowing strategies for their clients. In this revised edition, the book discusses new developments in mortgage lending, including the tiered mortgage default insurance approval process in 2016 and the mortgage stress test introduced in 2017. Also added in this revised edition are several personal borrowing--related topics such as borrowing from an employer and an explanation of the letter of credit."--