WHAT HAPPENS WHEN THE EXCHANGER OBTAINS A NEW LOAN FROM AN INSTITUTIONAL LENDER?
The Intermediary does not need to see or sign any of the lender’s documents. This is the Exchanger’s loan and only the Exchanger should be signing. Most lenders do not have a problem with the Qualified Intermediary inserted as the Exchanger’s Name on Instructions or Settlement Statements. However, if the lender does not want to see a Intermediary’s name on your statements or instructions, you can eliminate their name on items sent to the lender. WHAT IS A QUALIFIED INTERMEDIARY? Paramount to any exchange is a competent Qualified Intermediary. The Intermediary is the entity which structures, consults, guides and documents the exchange transaction from beginning to end. A sound Intermediary will provide safety and security for the funds held and provide the technical experience needed to maintain the integrity of the exchange. They do not replace competent tax or legal advise. Quite the contrary, they are not allowed to give tax or legal advise, this could disqualify them as an Intermedi
