May the Credit Review Committee meet without the presence of the borrower or applicant?
Yes. However, if, when requesting a review by the Credit Review Committee, the borrower states the intention of attending the committee meeting, the qualified lender should try to schedule the meeting at a mutually convenient date to enable the borrower to attend. That does not mean the borrower can delay the meeting by claiming unavailability for an extended period of time. All parties must act in good faith to arrange the Credit Review Committee meeting.
Related Questions
- What happens if the borrower, after asking for a review by the Credit Review Committee, proposes changes to the restructure plan that the qualified lender is willing to consider?
- Who forms a Credit Review Committee when the direct lender must obtain its supervising bank’s approval on a credit decision?
- How often does the curriculum committee meet to review proposals?
