Definition
The IRS defines a lender of record as the person or entity who, at the time the loan is made, is named as the lender on the loan documents.
ℹ️ For more info on lender of record please contact your legal counsel.
Add or Edit a Lender of Record
To Add or Edit a Lender of Record:
Go to your Company Settings
Navigate to the section named "Lender of Record"
Add by clicking the "+ Add Lender" link
Using the Lender of Record
In Baseline, you can assign a default Lender of Record on each product and on each individual loan, the lender of record may be modified.
The lender of record information can be used when generating documents through the templates. To add the information of a lender of record, include the relevant lender of record merge fields within the document template.
