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Notice of Completion is published in a newspaper of general circulation. f. If applicant chooses to pay off the loan before the one year period after the closing of the loan, the applicant will be required to pay the full Mortgage and Note amount. 3.6 CREDIT HISTORY AND INCOME VERIFICATION a. Credit Report: The applicant shall authorize the County to request written credit reports from the known creditors on all outstanding applicant loans. A credit rating company may also be utilized. These reports may be used to establish a credit history for the applicant to determine credit worthiness. b. Employment and Bank Account Verification: The applicant shall authorize the County to request written verification of employment from the applicant’s employer and verification of income from other sources of income. The applicant shall also authorize the County to request written verification of the applicant’s bank deposits and other savings and investment accounts. c. Credit Risk Loan Denial: Information acquired from employment and bank verifications, or credit reports, which indicate that an applicant may be a credit risk shall entitle the County to review each case and determine the applicant’s loan eligibility. In the sole discretion of the Housing Administrator, poor debt service history in the repayment of loans, especially mortgage loan delinquency, or insufficient income may be deemed to constitute a credit risk. The determination that a rehabilitation loan applicant is a credit risk shall be sufficient reason for denial of a rehabilitation loan. 3.7 PLEDGED SECURITY a. Fee Simple Estates. 1. Mortgage and Note: All approved rehabilitation loans shall require all legal owners of the property to sign a Mortgage and Note to protect the County from possible losses. The Mortgage and Note will be recorded with the Bureau of Conveyances, State of Hawai`i, or the Assistant Registrar of the Land Court, as applicable. 7019RBLA -7- RRP RULES/07-07-2016