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04 - FAQ’s

From a sales perspective, it is invaluable as they are two important
leads or source for future leads.

50. What is the mandatory information to be filled in
reference column?
Every column is important. The details should be complete and
comprehensive.

51. How is life insurance and general insurance meaningful in
mortgage Finance ?

Life insurance covers the outstanding principle loan amount linked to
the customer’s life. That is in case of any unforeseen death, the princi-
pal outstanding would be paid by the insurer and the bereaved family
will not be burdened to repay the loan or lose the property.

General insurance covers the cost of reconstruction of property in case
there is destruction of the property.

52. Is it important to read the declaration stated in the last page
of the application form?
Yes, it is important for you to suggest to the customer to read the
details of the declaration form before signing on the same.

53. Who should sign if the applicant or co applicant is a
non-individual entity?

In case of non-individual entity, the authorized person should sign. The
authorized person will be the one as per the name mentioned in board
resolution or one of the partners as per partner’s authorization letter in
case of partnership firm.

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