Finance
A Wisconsin lender who issues a 'commitment letter' to a buyer has:
AProvided a pre-qualification only
BFormally committed to provide the loan subject to specified conditions remaining satisfied at closing✓ Correct
CIssued a guarantee that the transaction will close
DWaived all underwriting conditions
Explanation
A commitment letter (or loan commitment) is a formal conditional agreement by the lender to provide the loan, subject to specified conditions such as clear title, satisfactory appraisal, and the property remaining in good condition.
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