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 ?
This phase includes other regulatory approvals, such as CLIA (Clinical Laboratory Improvement Amendments) certificates, attorney general registrations, statements from peer review organizations, vehicle licenses, and medical waste permits.
McDonough said that his group does not conduct its own cost-effectiveness assessments, but rather makes decisions based on medical literature, results of scientific studies, FDA approvals and the opinions of medical professional societies.
But presidential approval also became a surrogate measure of national unity and patriotism.
If a taxpayer is not eligible for automatic approval for an accounting-period change under either of the automatic procedures, the IRS's prior approval would then be necessary.
Rhetorically, it sounded much like today's accelerated approval, but HIV public policy groups were split on the proposal, with some prominent organizations arguing against it as a "sellout to the pharmaceutical industry." The opposing view prevailed and the proposal was approved in 1987, just in time to deal with the impending demand for AZT.
Hyung-Kwan Kim, commented: We are glad to receive this digital type approval certificate from LR for the first line network security component of our smart ship system, ISS.
Robredo got the highest approval and trust ratings in Visayas, both at 57 percent.
This work on obtaining market approval from the FDA was started in 2009 and an HDE approval was received in August 2014.
Approved Change in Approval Status from Conditional Approval to Full Approval:
Vice President Leni Robredo scored 61 percent and 56 percent approval and trust ratings, respectively.
-- Half of Americans approve of the way President Donald Trump is handling the economy, his highest score on nine issues tested in the latest Gallup poll, and the only one that exceeds his overall job approval rating by a significant margin.
An ABC News/Washington Post poll released Sunday had Trump below his (https://www.realclearpolitics.com/epolls/other/president_trump_job_approval-6179.html#polls) Real Clear Politics average of 39.9 percent approval and 55.4 disapproval, with registered voters giving Trump 38 approval and 58 percent disapproval. The traditionally right-leaning Rasmussen Polls latest poll had Trump at 45 percent approval and 54 percent disapproval.