Approval


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Approval

An acceptance of an application. For example, an insurance company may give approval to an application for a policy, and a bank may do the same for a loan application.

Approval

Acceptance of the borrower's loan application.

Approval means that the borrower meets the lender's Qualification Requirements and also its Underwriting Requirements. In some cases, especially where approval is provided quickly as with Automated Underwriting systems, the approval may be conditional on further verification of information provided by the borrower.

References in classic literature ?
The grace and simplicity of her costume, the steady self-possession with which she looked out over the eager rows of faces before her, raised a low hum of approval and expectation.
In fact"--with a smile and a blush--"there are several things which I want to do; but I hold my hand and my tongue till I have your approval.
Her mother surveyed the girl up and down with arch approval, and went on banteringly: "So you've brought
Generally they mean only that they will do as they choose, in the confidence that no one will know their vagaries; and at the utmost only that they are willing to act contrary to the opinion of the majority because they are supported by the approval of their neighbours.
Each visitor performed the ceremony of greeting this old aunt whom not one of them knew, not one of them wanted to know, and not one of them cared about; Anna Pavlovna observed these greetings with mournful and solemn interest and silent approval.
The cab-horse, who never slept long at a time, sat upon his haunches and watched the tiny piglets and the kitten with much approval.
He went swimming with her, in point of rashness exceeding her; and dynamited fish with her, diving among the hungry ground-sharks and contesting with them for possession of the stunned prey, until he earned the approval of the whole Tahitian crew.
Surely you don't desire the approval of the bourgeois swine that read the newspapers?
A horse withdrawn from the sale was the only horse that had met with Hardyman's approval.
When it was ended, the people clapped their hands and the animals clapped their paws, while Billina cackled and the Donkey King brayed approval.
Speaker, I have heard with profound attention and entire approval the explanation of the honourable member, and wish to offer a few remarks on my own behalf.
I was told by the village doctor, about the only person with whom he held any relations, that during his retirement he had devoted himself to a single line of study, the result of which he had expounded in a book that did not commend itself to the approval of his professional brethren, who, indeed, considered him not entirely sane.