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LENDING AND LAZINESS
August 11, 2008
The Iowa Banking Law Blog notes the dangers to bankers of getting slack with their best loan accounts:
Although the temptation is great when times are good for a lender to accommodate its best customers by not insisting on quite the same level of detail and formality when documenting their loans, lenders should never forget that large credits are in many cases no more immune from a bad economy than are the smaller ones. In the event of bankruptcy by the borrower, the lender with a duly perfected lien in collateral is always in far better shape than the holder of an unsecured claim, regardless of how good the borrower’s balance sheet looked at one time.
It's part of their series on how lenders make their own lives more difficult.
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