It all depends on your input data - if you only have one obs per LOAN_ID, the answer is yes, otherwise #1 and #3 is NO, #2 is NO (it executes 3 times per observations, given your DO criteria.
And, why would you be asking the questions (other than a homework/quiz assignment), if you actually don't have any data to work through the discovery process with your own SAS system, input data, combined with some PUTLOG _ALL_; commands?
Scott Barry
SBBWorks, Inc.