Lender steering definition

Lender steering means inducing a client to contact, select, or avoid a specific lender or lenders. Lender steering can eliminate or sharply reduce client choice in the selection of a lender by substituting the steering party’s judgment for the consumer’s. It can also constitute a real or apparent conflict of interest on the part of a counseling agency or counselor. Such conflicts can undermine the independence of the counselor’s role in fact or in the perception of their clients.
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Lender steering means inducing a client to contact, select or to avoid a specific lender or lenders. Lender steering can eliminate or sharply reduce client choice in the selection of a lender by substituting the steering party‟s judgment for that of the client. It can also constitute a real or apparent conflict of
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Related to Lender steering

  • Term Loan Secured Parties means the “Secured Parties” as defined in the Term Loan Credit Agreement.

  • Second Lien Administrative Agent means the “Administrative Agent” as defined in the Second Lien Credit Agreement.

  • Syndication means an extension of credit in which two or more persons fund and each person is at risk only up to a specified percentage of the total extension of credit or up to a specified dollar amount.

  • Designated Senior Representative means (i) if at any time there is only one Senior Representative for a Senior Facility with respect to which the Discharge of Senior Obligations has not occurred, such Senior Representative and (ii) at any time when clause (i) does not apply, the Controlling Collateral Agent (as defined in the First Lien Intercreditor Agreement) at such time.

  • First Lien Administrative Agent means the “Administrative Agent” as defined in the First Lien Credit Agreement.