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Loan errors? Loan officers have made a few. In fact, a lot. Researchers from the Massachusetts Institute of Technology (MIT) Sloan School of Management, Harvard Business School and the University of Southern California released a report this month examining the mistakes loan officers sometimes make when they decide which borrowers should receive a loan. They …

What is a loan application fee? A loan application fee is charged to a potential borrower for processing and underwriting a loan application, such as a mortgage or car loan. A loan application fee may be charged for all types of loans and is intended to pay for the costs of the loan approval process, …