Loans are an important financial instrument, as they are involved in various types of transactions. A loan refers to an amount of money, often acquired from a bank, used to pay for a service, product, and/or investment with the expectation of repayment back to the lender at a future date in time. In the event that the loaned amount is not paid in the agreed upon time, however, the parties involved may then have grounds for a lawsuit, depending on the initial terms of the loan transaction. Loan expert witnesses are often requested for such cases so that they may provide an expert opinion based on a loan evaluation.
Loan expert witnesses are often skilled in various forms of the practice, including commercial loans, equipment loans, real estate lending, construction loans, and forensic commercial lending. Because loans are usually acquired through banks, experts in this area are also experienced with various banking operations, such as back documents, back policies, banking regulations, and administrative banking. The lender may also conduct a credit analysis before agreeing to the loan, as a history of troubled debt may prevent the loan from transpiring. Likewise, lender liability is also a factor, since the lender is also agreeing to the said loan commitments and must adhere to certain standards of conduct. Loan expert witnesses must also be familiar with such regulatory procedures, as loan fraud committed by either party would be grounds for a lawsuit.
Contact ForensisGroup today to speak with our helpful staff or Submit An Expert Request Form and retain a credible loans expert witness.