What is the purpose of a post-closing review?

• A. Reassesses loan pricing after closing.
• B. Verifies that loan terms are properly documented, covenants in place, liens perfected, and funds disbursed as intended; ensures compliance.
• C. Determines quarterly interest accrual only.
• D. Reviews marketing materials for the loan.

Answer: (B)

Post-closing review ensures the loan file is complete, enforceable, and compliant after closing. It verifies that loan terms are properly documented, covenants are in place, liens are perfected, and funds are disbursed as intended, and that the file meets all internal and regulatory requirements. This step confirms that every required document—such as the note, security agreements, mortgages or deeds of trust, UCC filings, and disclosures—has been executed and properly filed, and that closing conditions have been satisfied. It also checks that collateral perfection steps were completed and that the loan is ready for ongoing administration and audit. That's why this captures the purpose: it covers documentation accuracy, covenant presence, lien perfection, disbursement alignment, and compliance. The other options miss the scope: pricing adjustments occur before or at closing, interest accrual is a financial detail not the post-closing check, and reviewing marketing materials has nothing to do with the loan file itself.