When your bank prepares for a large transaction, such as taking on a client’s mortgage or car loan, you want to know that all of your bases are covered. Adam Karhu is an experienced Bank Attorney who can help you complete all of these transactions with ease.

About Bank Transactions

Bank transactions typically involve the transfer of large amounts of money. Whether your client is purchasing their first vehicle or investing in commercial property, you will be supplying them with the funds needed to complete the transaction. At this time, you must also draft a contract that will require your client to repay the money he or she has borrowed from your institution. This contract will detail all of the terms of the arrangement, including the interest rate, payment frequency, length of repayment and the collateral for the loan. If the client defaults on the loan, the contract will give you the right to seize the collateral.

Most large loans will also require a formal closing. Prior to closing, your bank will transfer funds into escrow, which is a third-party account designed to hold the funds until all of the loan’s requirements have been met. The borrower may also transfer his or her down payment into this account. At closing, all parties involved will sign the necessary documentation, funds will be released from escrow and the loan contract will be binding.

Mistakes made during the drafting of contracts and the closing process can cause your bank to lose a great deal of money. For this reason, it is essential to have a knowledgeable, competent bank attorney like Adam Karhu on your side throughout the entire process.

Contacting Adam Karhu

Adam Karhu has worked with countless banks in New York, including Bank of America, Wells Fargo Bank, TD Bank, PNC Bank, Freedom Mortgage Corporation, Caliber Home Loans, Contour Mortgage Corporation, Academy Mortgage Corporation, DE Capital, Guaranteed Rate Corporation and many others. He has extensive knowledge and experience in preparing and reviewing loan documents, as well as advising bank clients throughout the entire closing process. Whatever your needs may be, Adam Karhu can help you make sure that your investments and interests are protected in every transaction you make.

To learn more about these services or to schedule a consultation with Adam Karhu, please contact our office today.