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 ?
Approval polarization is measured as the difference between the in- and out-party approvals at each of the points in our series.
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.
"Manufacturers press us all the time to approve their products, especially since we put our approvals out onto the Internet," added McDonough.
Closing of the deal, which was originally announced in July 2002, is expected to close in mid 2003 and is contingent upon receipt of outstanding regulatory approvals.
Ten years ago when the FDA was more sluggish with the approvals and drugs tended to go on the market in Europe before here, you might have tried to find out whether 10,000 Germans had survived the experience.
The critics, including Greenpeace International, the Sierra Club, and the International Federation of Organic Agriculture Movements, also want to block future approvals of similar plants.
Both residential and non-residential building approvals rose strongly in December 2015, with residential approvals setting a new record of $21.2 billion for the year.
Iowa City, IA, May 05, 2011 --(PR.com)-- MetaCommunications today announced the immediate availability of its new product, Approval Manager 2011, available in both Standard and free Express editions.
This week the Jets won the approval of the Empire State Development Corporation.
INEX receives a US$12 million up-front payment and will receive up to a US$20 million payment upon Onco TCS receiving approval from the FDA.
The Charles Schwab Corporation ("Schwab", a financial holding company within the meaning of the Bank Holding Company Act ("BHC Act"), has requested the Board's approval under section 3 of the BHC Act (12 U.S.C.
Many of the new recommendations will appear in a "guidance document" on the use of HIV RNA measurements to support accelerated and traditional approval for phase III trials.