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 ?
The big problem is clinical trials--which readers see as one of the highest forms of evidence, which have the journal's stamp of approval, and which are distributed around the world, often with global media coverage.
A few days before the meeting, (scheduled before the French referendum), however, Claudie Haignere took the initiative of sending the planned route to certain MEPs, expecting both countries to give their "stamp of approval".
The only running back that received Benny's stamp of approval was Jim Brown.
The fact that millions of forest acres in dozens of countries now bear certification's stamp of approval reflects the ambition and energy of a movement grown out of the private sector and unafraid to focus on the cold reality of the marketplace, which time has proven to be the ultimate arbitrator of environmental endeavors.
And with a comic irony to which he himself is oblivious, Gagnon lists "false" analogies used by liberals to bolster their case for ending Bible-based homophobia: slavery, misogyny, and exclusion of women from ministry (he might have added polygamy) all come with a biblical stamp of approval, yet are now deplored; so why not reverse the ban on gays (or, as Gagnon would say, "pro homosex advocates")?
THE FLORIDA CABINET recently put its stamp of approval on the new "Kids Deserve Justice" specialty license tag.
Being chosen to represent this global powerhouse in its diverse, and highly targeted markets, is the ultimate stamp of approval for our approach, our team and our track record," said Bruce Bear, president.
Research designed to promote the current drinking age gets federal funding, a stamp of approval, and widespread dissemination, regardless of its scientific merit.
-Meeting in plenary session in Strasbourg on September 14, the European Parliament gave the final stamp of approval for two Supplementary and Amending Budgets to the 2004 Budget line (SAB 2004/07 and /08).
Halper and Clarke should have devoted a little more space to Criticism of how the neocons' doings, admittedly with the stamp of approval by Congress, belittles the harm done to the principles and stature of the United States.
"The ALA's stamp of approval creates a sales spurt and keeps books in print for a long time," says Diane Foote, former marketing director at New York's Holiday House.
There are no volatile organic compounds; it's odorless (good-bye "new paint" smell); it's free of any chemicals shown to be cancercausing (one of the reasons Green Seal, an environmental watchdog, gave it a stamp of approval); and it contains a mold and mildew inhibitor.