Loan Underwriting. Each Loan complies, in all material respects, with all of the terms, conditions and requirements of the applicable Representing Party's and Prudential's underwriting standards in effect at the time or origination of such Loan;
Loan Underwriting. (1) Effective immediately, the Bank may grant, extend, renew, alter or restructure any loan or other extension of credit over $75,000 only after:
Loan Underwriting. At the time of the offer by Seller to sell to Buyer a Participation Interest in a proposed Loan, Seller will forward to Buyer the following with regard to each such Loan:
Loan Underwriting. Each Mortgage Loan complies, in all material respects, with all of the terms, conditions and requirements of the Seller's underwriting standards in effect at the time of origination of such Mortgage Loan.
Loan Underwriting. The following is a breakdown of the Loan underwriting criteria. Any revision of underwriting criteria must be approved by WebBank. Loan Requests - A loan request includes specific information provided by the Applicant, and a loan listing created by the Applicant and posted on the Prosper website. A listing is a request by an Applicant for a loan in a specified amount, at an interest rate equal to the maximum interest rate set forth by the Applicant in the listing. In order to request a loan, the following information must be provided by Applicant and/or gathered by Prosper based on information provided by Applicant: § Loan Application § Borrower Registration Agreement § Credit Report Information, including score, homeownership status and certain attributes (e.g. number of current delinquencies, number of public records) § Stated Income and Employment Information § Debt-to-Income Ratio § Prosper Score and Prosper Rating, as described in Exhibit B Before a loan is funded, an Applicant must meet the following minimum requirements: § Borrower identity must be verified, prior to loan funding § Home Address must be verified, prior to loan funding Exhibit B WebBank Credit Policy § Bank account must be verified § Credit score (currently using Experian Scorex Plus score): · For first time Applicants >= 640 · For Applicants who had previously obtained a Prosper loan and paid off the loan in full >= 600 · For Applicants seeking a second loan, and otherwise are eligible for a second loan >= 600 § Credit Report must be <30 days old at time listing is initiated § The Applicant must not have had a previous loan originated through Prosper that was charged-off. § Loan request must be 100% funded by bids from investors of Pxxxxxx, as described below, prior to the expiration date of the listing. Loan Approval and Pricing - Loans are priced and approved for funding based on an auction between lender members of the Prosper marketplace that takes place on the Prosper website. Once a loan listing is completed by the Applicant, the listing is posted on the Prosper website and then becomes available for bidding by Prosper lender members. A bid on a listing is a lender member’s binding commitment to purchase a Borrower Payment Dependent Note (a “Note”), a security issued by Prosper which is dependent for payment on payments that Pxxxxxx receives on the loan described in the listing, in the principal amount of the lender member’s bid, should the listing receive bids totaling the ful...
Loan Underwriting. (1) Within thirty (30) days, the Board shall develop, implement, and thereafter ensure Bank adherence to a written program to reduce the high level of credit risk in the Bank. The program shall detail procedures to strengthen credit underwriting that establish at a minimum the following:
Loan Underwriting. Each Mortgage Loan complies, in all material respects, with all of the terms, conditions and requirements of the Seller's underwriting standards in effect at the time of origination of such Mortgage Loan. EXHIBIT B AFFIDAVIT OF LOST NOTE STATE OF NEW YORK ) ) ss.: COUNTY OF NEW YORK ) , , being duly sworn, deposes and says:
Loan Underwriting a) Review and revise the credit union’s Loan Policy within ninety (90) days from the effective date of this LUA, incorporating, at a minimum, the following improvements to the underwriting process:
Loan Underwriting. 4. Within 60 days of this Agreement, the Bank shall submit to the Reserve Bank and the OFR acceptable revised policies and procedures to strengthen the Bank’s loan underwriting practices that shall, at a minimum, address, consider, and include: [Page Break]
Loan Underwriting. (1) Within sixty (60) days, the Board shall develop written Commercial Real Estate Loan Underwriting Standards designed to ensure that the Bank is granting, extending, renewing, and restructuring commercial real estate loans in a safe and sound manner. At a minimum, the underwriting standards shall include:
