Medical Office Building Financing News + More: World Series game 6 draws big rating; audience for game 7 could be huge + MORE 11/02/2016

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Sourcing And Seasoning Assets. Seasoning of Ownership!

This particular problem will not be relevant to all business borrowers. However, if it is relevant, you should seek out a lender without sourcing and seasoning requirements or limitations. Most banks have strict guidelines for sourcing and seasoning of assets or ownership to qualify for commercial real estate loans. For a purchase, commercial lenders will frequently want documentation about where the down payment is coming from (sourcing). Commercial lenders will also frequently have very specific requirements stipulating that the funds must have been in a specific account for a specific period of time, often 3-6 months or longer (seasoning). Seasoning of ownership is similar to seasoning of funds, except this requirement involves the minimum time someone has owned a commercial property before they can refinance the property.

ClassPass is getting rid of its signature unlimited plan.

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Game 6 of the World Series drew big ratings for Fox and Major League Baseball Tuesday night, suggesting that the audience for game 7 Wednesday night, the final installment of a Series that MLB probably wishes was going 14 games, could be one of the biggest baseball has seen in years.

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Bots, as we know them today, are a little dumber than we"d initially hoped.

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