# What Changed Use this page to find substantive changes since your last visit. Dates describe changes to the guide, not new loan approvals, policy effective dates or investment results. ## September 30, 2026 - **Underwriting clarified:** [[wiki/concepts/loan-sizing|Loan Sizing]] and the [[wiki/syntheses/policy-rails-and-control-matrix|Policy and Control Guide]] now distinguish transaction-specific assumptions, mandatory limits and concentration-review triggers. They explain net production cash and the sequence from risk assessment to human approval and rate classification. - **The financing sequence refreshed:** the [[wiki/syntheses/credit-lifecycle|Credit Lifecycle]] distinguishes indicative terms, approval, closing and cash funding, including separate institutional and non-institutional obligations. - **Five terms added:** the [[wiki/glossary|Glossary]] now explains Article 9, lockbox, holdback, recapture and intercreditor agreements, with jurisdiction-specific primary context. - **Reader questions answered:** [[wiki/evidence-and-limitations|Evidence and Limitations]] explains what this guide can say about financing eligibility, rates and distributors, which questions remain open, and what a page-update date means. - **Return language clarified:** [[wiki/concepts/financier-return-economics|Return Economics]] distinguishes fixed loan interest from annual rates and explains why gap exposure does not imply a mechanical pricing uplift. ## Continue Exploring [[MediaHedge Knowledgebase|Home]] · [[wiki/evidence-and-limitations|Evidence and Limitations]] · [[wiki/syntheses/site-navigator|Site Navigator]]