Nov 20, 2024
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We added a new table that shows the beneficial owners of each applicant. It is part of an additional page to the Borrower Information Form of the 1244. The ownership section of the Borrower Information Form asks that at least 51% of the beneficial owners be reported. Beneficial ownership is the cumulative percentage of ownership held by a human directly or indirectly in a company.
Here is an example of what the beneficial ownership table for an applicant looks like:
Here is an example of how beneficial ownership is calculated: