Loan Processing Sample Clauses
The Loan Processing clause outlines the procedures and requirements for handling a loan application from submission through approval and disbursement. It typically details the steps involved, such as document collection, verification of borrower information, credit checks, and compliance with regulatory standards. By establishing a clear process, this clause ensures that both parties understand the timeline and responsibilities, reducing misunderstandings and streamlining the approval of loans.
Loan Processing. If a loan and/or grant application is approved, the County will:
i. Conduct initial inspection of properties of eligible applicants and prepare inspection reports.
ii. Assist eligible applicants with securing contractual services to undertake eligible work, including preparing bid packages, noticing the availability of bid packages, reviewing bids received, and confirming the contractor and any subcontractors are not on the list of debarred, suspended, or ineligible contractors. The County may assist the applicant in choosing a contractor from the County’s courtesy list of contractors or may assist the applicant in choosing a contractor who has a license from the State Contractor’s Board and a business license from the City of Walnut Creek.
iii. Assist eligible applicants with the preparation of loan/grant application documents.
iv. If a loan is being made, prepare the loan documents between the homeowner and the City, under which the homeowner evidences its obligation to repay the loan through the execution of a promissory note, which note is secured by a deed of trust that names the City as the beneficiary. If a grant is made, prepare the grant documents between the homeowner and the City.
v. Verify the contractor’s general liability, automobile liability and workers’ compensation insurance coverage prior to each project start date. Contractor’s general liability policy must list the County and the City as additional insureds.
vi. Verify the contractor’s licenses including a business license from the City, and evaluation of contractor’s qualifications. For work exceeding $2,000, verify that the contractor has a license from the State Contractor’s Board.
vii. Coordinate the signing of Rehabilitation Contract with selected Contractor, prior to initiation of work. Upon signature, homeowner will be provided an anticipated timeline and completion date for the work.
viii. Perform periodic inspections to determine that work is being performed in accordance with the contract between the homeowner and the contractor.
ix. Perform final inspection to determine that the work has been completed in accordance with the terms of the contract between the homeowner and the contractor.
x. If work is performed in accordance with homeowner’s contract with the contractor during the term of the contract, with homeowner’s agreement, make progress payments to contractor. Progress payments are to be made by the County within 30 days following its receipt of a request from the con...
Loan Processing. If so directed by a Plan Sponsor, Boston Financial will receive for acceptance written loan instructions and direction via facsimile, or other mutually agreed upon methods, from Plan Sponsors or Participants. If directed by Pioneer and agreed to by Boston Financial, Boston Financial shall provide loan modeling via the Plan Web functionality and generate loan documentation and loan proceeds as directed by the Plan Sponsor or Participant. EXHIBIT C to SCHEDULE I SUB-TRANSFER AGENCY SERVICES EMPLOYER SPONSORED RETIREMENT PLAN SERVICES
Loan Processing. WFHM shall process all mortgage loan applications taken by Venture in accordance with the standards set forth in Paragraph 2.15 below and shall comply with the covenants set forth in Paragraph 2.16 below.
Loan Processing. OLB may submit loan applications it has originated to MMP loan processing. MMP agrees to promptly and diligently process such loan applications in compliance with all applicable laws and regulations. MMP will make every reasonable effort to ensure that all loan applications are fully processed to the extent that OLB’s chosen lender’s requirements are satisfied.
Loan Processing. (a) Chase Texas will enter information with respect to the interest rate, amortization schedule, maturity date and related information for each Senior Loan into the "Wall Street Office" software program of Financial Computer Software, L.P. ("WSO") selected by the Fund;
(b) The Fund will not make any changes to the WSO software program without the approval of Chase Texas;
(c) Chase Texas will make adjustments on each Business Day to WSO to account for principal and interest payments received on the Senior Loans and interest rate resettings;
(d) The Fund will forward all notices received from the Investment Adviser, a Lender or an Agent Bank with respect to the Senior Loans to Chase Texas;
(e) Chase Texas will coordinate funding requests with the Fund in response to Lender or Agent Bank notices pertaining to additional borrowings;
(f) Chase Texas will prepare an electronic extract of data from the WSO database on each Business Day and deliver a copy of same to the Fund;
(g) The Fund will provide Chase Texas with written confirmation of all pricing data on each Business Day. Chase Texas (utilizing the WSO accounting package provided to Chase Texas by the Fund, and after receipt by Chase Texas of written confirmation of pricing data from the Fund) will provide Chase Boston with information reasonably requested by Chase Boston to enable Chase Boston to perform net asset value calculations with respect to the loans on each Business Day; and
(h) Chase Texas will reconcile purchases and sales of Senior Loans and Financial Assets with the Investment Adviser on each Business Day. SCHEDULE B DESCRIPTION OF FUND ACCOUNTING SERVICES Chase Boston shall provide the following accounting services to the Fund:
A. Maintenance of the books and records for the Fund's assets, including records of all securities transactions.
B. Calculation of each Fund's, portfolios' or classes' net asset value in accordance with the Prospectus and after receipt of written confirmation of all pricing data from the Fund, and after the fund, portfolio or class meets eligibility requirements, transmission to NASDAQ and to such other entities as directed by the Fund.*
C. Accounting for dividends and interest received and distributions made by the Fund.
D. Coordination with the Fund's independent auditors with respect to the annual audit, and as otherwise requested by the Fund.
E. As mutually agreed upon, domestic and/or international reports.
Loan Processing. 1. Provide trade processing support for loan transactions including recording trade settlements, reconciliation of settlements and tracking associated loan documentation.
2. Provide asset servicing support related to loan positions including liaising with the loan agent on various aspects of loan maintenance and reconciliation.
3. Provide payment information to the Fund and Management for review through SS&C’s wire payment application with respect to loan payments, drawdowns and other loan life cycle events.
4. Obtain and maintain static data on loan facilities subject to receipt from the applicable agent bank
5. Provide loan information reporting (e.g., trade blotter, market value position report and loan contract position report) to the Fund and Management.
6. Store agent bank notices received with respect to loan positions and make available to the Fund and Management in a format as agreed in writing with Management.
Loan Processing. To the extent loans are permitted under the Plan, Prudential will provide a package of standard loan documentation such as loan policies and notes (for review by Employer's legal counsel) and will:
i. Disburse loan proceeds upon the Employer's approval; and
ii. Provide for systematic crediting of loan repayments and re-investment in appropriate funds. Loan repayments will be made via payroll deduction.
Loan Processing. (a) Chase Texas will enter information with respect to the interest rate, amortization schedule, maturity date and related information for each Senior Loan into the "Wall Street Office" software program of Financial Computer Software, L.P. ("WSO") provided to Chase Texas by the Fund;
(b) Chase Texas will make adjustments on a daily basis to WSO to account for principal and interest payments received on the Senior Loans and interest rate resettings;
(c) The Fund will forward all notices received from the agent banks with respect to the Senior Loans to Chase Texas;
(d) Chase Texas will coordinate funding requests with the Fund in response to agent bank notices pertaining to additional borrowings;
(e) Chase Texas will prepare an electronic extract of data from the WSO database on a daily basis and deliver a copy of same to the Fund;
(f) Chase Texas will provide Chase Boston with information reasonably requested by Chase Boston to enable Chase Boston to perform net asset value calculations with respect to the loans on a daily basis; and
(g) Chase Texas will reconcile purchases and sales of Senior Loans and Financial Assets with the Investment Adviser. SCHEDULE B DESCRIPTION OF FUND ACCOUNTING SERVICES Chase Boston shall provide the following accounting services to the Fund:
A. Maintenance of the books and records for the Fund's assets, including records of all securities transactions.
B. Calculation of each Fund's, portfolios' or classes' net asset value in accordance with the Prospectus, and after the fund, portfolio or class meets eligibility requirements, transmission to NASDAQ and to such other entities as directed by the Fund.
C. Accounting for dividends and interest received and distributions made by the Fund.
D. Coordination with the Fund's independent auditors with respect to the annual audit, and as otherwise requested by the Fund.
E. As mutually agreed upon, domestic and/or international reports. SCHEDULE C FEES AND EXPENSES Custody and Loan Tracking Fees [TO COME] [to include transaction charges for short-term investments] Fund Accounting fees
A. For the services rendered under this Agreement, the Fund shall pay to Chase Global an annual fee based on the following schedule: ____ of 1% on the first $______ million in total assets, plus ____ of 1% on the first $______ million in total assets, plus ____ of 1% of the total assets in excess of $1 billion.
B. The foregoing calculation is based on the average daily net assets of the Fund. The fees will be ...
Loan Processing. T. ▇▇▇▇ Price shall process loans to Participants in accordance with procedures adopted by Client. If instructed by Client, T. ▇▇▇▇ Price shall prepare Internal Revenue Service Forms 1099-R or such other forms as may be required under the Code for the reporting of distributions that Client directs T. ▇▇▇▇ Price to make in connection with the failure of a Participant to repay a loan as required, provided that Client provides T. ▇▇▇▇ Price with all information T. ▇▇▇▇ Price may need to prepare the reports of distributions.
Loan Processing. If a loan application is approved, the County will:
i. Conduct initial inspection of properties of eligible applicants and prepare inspection reports.
ii. Assist eligible applicants with securing contractual services to undertake eligible work, including preparing bid packages, noticing the availability of bid packages, reviewing bids received, and confirming the contractor and any subcontractors are not on the County list of debarred, suspended, or ineligible contractors. The County may assist the applicant in choosing a contractor from the County’s courtesy list of contractors or may assist the applicant in choosing a contractor who has a license from the State Contractor’s Board and a business license from the City.
iii. Assist eligible applicants with the preparation of loan application documents.
iv. If a loan is approved, prepare the loan documents between the homeowner and the Housing Authority, under which the homeowner evidences its obligation to repay the loan through the execution of a promissory note, which note is secured by a deed of trust that names the Housing Authority as the beneficiary.
v. Verify the contractor’s general liability, automobile liability and workers’ compensation insurance coverage prior to each project start date. Contractor’s general liability policy must list the County and the Housing Authority as additional insureds.
vi. Verify the contractor’s licenses including a business license from the City, and evaluation of contractor’s qualifications. Verify that the contractor has a license from the State Contractor’s Board.
vii. Coordinate the signing of rehabilitation contract with selected contractor, prior to initiation of work. Upon signature, homeowner will be provided an anticipated timeline and completion date for the work.
viii. Perform periodic inspections to determine that work is being performed in accordance with the contract between the homeowner and the contractor.
ix. Perform final inspection to determine that the work has been completed in accordance with the terms of the contract between the homeowner and the contractor.
x. If work is performed in accordance with homeowner’s contract with the contractor during the term of the contract, with homeowner’s agreement, make progress payments to contractor. Progress payments are to be made by the County within 30 days following its receipt of a request from the contractor for payment in the form of a payment voucher. If work is completed in accordance with homeowne...