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computerized loan origination |
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computerized loan origination (CLO) A computerized network of major lenders that uses artificial intelligence to evaluate loan application data entered online by agents and determine loan eligibility and terms.HUD has approved the procedure as long as there is full disclosure of the fee,multiple lenders are displayed on the screen to give borrowers freedom of choice,and the fee charged is a dollar amount rather than a percentage of the loan. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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