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 periodicals archive ?
Achieving the Seal of Approval from The National Parenting Center is a ringing endorsement of our efforts to improve learning outcomes for all children, in addition to the huge monetary and time savings Tabtor Math offers over traditional after-school tutoring centers," said Raj Valli, founder and CEO of PrazAs Learning, the company behind Tabtor Math.
The Mini and Youth Seal of Approval and the Sport England Clubmark accreditation scheme are based upon a three-year rolling award system, in which a club is assessed on its continuing ability to provide a safe and effective club environment.
Winger Tony Quinn, 15, who has been at the club four years, said: "There is a great atmosphere at the club and it is really good news about the seal of approval.
Moseley have been given the seal of approval from the RFU for their work with the next generation of rugby players.
7 billion industry, a seal of approval can go a long way, especially when consumers become bleary eyed due to the clutter of choices, Zimmerman said.
The use of Internet seal of approval programs has been touted as an alternative to potential legislation concerning consumer-related online privacy practices.
After a comprehensive evaluation by the scientists and experts at the Good Housekeeping Research Institute, Vichy LiftActiv Serum 10 has also earned the Good Housekeeping Seal of Approval.
Paul Zabetakis, CEO of Fresenius Medical Care Extracorporeal Alliance commented, "We're very proud to receive the Joint Commission's Gold Seal of Approval.
March 8, 2012 /PRNewswire/ -- Morphonix LLC is thrilled to announce that Every Body Has a Brain has been awarded the PTPA Winner's Seal of Approval.
Tools that pass the validation tests are then affixed with the Synchromesh Computing Tested and Validated Seal of Approval.
May 18, 2011 /PRNewswire/ -- Sakar International today announced that its SpongeBob SquarePants LED Alarm Clock has earned a Spring 2011 Seal of Approval from The National Parenting Center (TNPC) for an 'ingenious and exciting' design that includes a popup SpongeBob SquarePants snooze button and entertaining alarm sounds.
O24 Fibromyalgia is the first OTC or prescription product specifically for fibromyalgia that is available in national retailers was recently awarded the first NFA Seal of Approval.