Section R362-5-8 - Underwriting(1) The third-party lender and property owner negotiate financing terms and conditions. (a) Third-party lenders establish their own financial underwriting standards and make their own determination about whether to invest in a project, on a per project basis.(b) Once the underwriting process is complete, the third-party lender may issue a conditional approval or financial commitment letter outlining the terms of the financing, including any conditions of closing.Utah Admin. Code R362-5-8
Adopted by Utah State Bulletin Number 2019-4, effective 1/23/2019