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Approval
(redirected from approvals)

   Also found in: Dictionary/thesaurus, Legal, Idioms, Wikipedia 0.03 sec.
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.



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Approvals were obtained from MTA Engineers prior to starting construction.
Subject to regulatory approvals, including Hart-Scott-Rodino, the acquisition is expected to be completed in the fourth quarter of fiscal 2007.
Modern time and attendance software offers three key areas of functionality that, when properly leveraged, can help companies improve morale and productivity and, in turn, boost recruitment and retention: electronic approvals of time worked, creating a culture of accountability; attendance point programs, encouraging and rewarding perfect attendance; and advanced pay rules, offering the chance to amicably resolve difficult labor problems, such as scheduling employees for less desirable shifts.
 
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