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In order to extend the deadline date for loan objection, what must the broker obtain?

1) The lender's permission
2) The seller's permission
3) A letter from the lender
4) The buyer's permission

1 Answer

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Final answer:

To extend the deadline for a loan objection, a broker must get the lender's permission. This is because the lender is involved in the approval process, which includes credit checks, and may also require cosigners or collateral.

Step-by-step explanation:

In order to extend the deadline date for a loan objection in the financial capital market, the broker must obtain the lender's permission. The process of loan approval involves various measures such as the lender conducting a credit check and requiring the borrower to fill out forms regarding income sources. Lenders may also require a cosigner or collateral, like property or equipment, to secure the loan. However, for any extension of the objection period, the essential element is the approval of the lender, as they are the party extending the credit and would be impacted by the delay in finalizing the terms of the loan.

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