What should a fund check in a debt package before bidding on a loan or asset?
Short answer
Answered
## Short answer
Maturity, rate, reserves, covenants and the gap between in-place income and debt service. Titleman Underwriting (deal audit) lays these out next to restated income.
## What to look at
- Maturity and extension terms.
- Coverage under stress.
- Reserves and covenant triggers.
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