paper the file

paper the file

(1) To document one's own file regarding all events,meetings,who said what,who did what,and anything else,because of a fear that there will be a problem in the future and it will be important to reconstruct exactly what happened.Warning: Papering the file preparatory to firing a real estate agent who might claim discrimination is also discrimination if the broker does not routinely paper everyone's file. (2) Providing every possible projection and all research, analysis, maps, drawings, and photographs to a lender for a commercial loan application. One cynical school of thought says this comforts lenders and makes a loan more likely. Others say that the complicated financial analyses required of lending personnel will be easier with a wide array of data from which to choose,thus speeding up the approval process.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.