Prior Approval Loans definition

Prior Approval Loans means any Loan for which a Correspondent Lender, in accordance with the Correspondent Lending Guide, must receive underwriting approval from Cendant, acting on behalf of M LCC, prior to such Loan being closed by the Correspondent Lender.
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Prior Approval Loans means any Loan for which a Correspondent Lender, in accordance with the Correspondent Lending Guide, must receive underwriting approval from Cendant, acting on behalf of M LCC, prior to such Loan being closed by the Correspondent Lender. “Table Funded Loans” means any Loan closed and funded by Cendant on MLCC’s behalf and in MLCC’s name under the Mortgage Broker Program. “Underwriting Guidelines” means (i) with respect to Portfolio Loans and Equity Access® Loans, the published underwriting guidelines of MLCC and (ii) with respect to Cendant Loans, the published underwriting guidelines of Cendant. “Wholesale Lender” means a Correspondent Lender or a Mortgage Broker. “Wholesale Lending Program” means the Correspondent Lending Program and the Mortgage Broker Program.
Sample 1
Prior Approval Loans means any Cendant Loan for which a Correspondent Lender, in accordance with the Correspondent Lending Guide, must receive underwriting approval from Cendant, acting on behalf of MLCC, prior to the Cendant Loan being closed by the Correspondent Lender. “Program Exception Loan” means a Mortgage Loan (a) which shall have been closed and purchased by MLCC pursuant to either the Correspondent Lender Program or the Mortgage Broker Program and (b) with respect to which Cendant and MLCC shall have agreed in writing that such Mortgage Loan is a “Program Exception Loan” and that it shall be deemed a “Cendant Loan.” “Table Funded Loans” means any Cendant Loan closed and funded by Cendant on MLCC’s behalf and in MLCC’s name under the Mortgage Broker Program. (b)
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Examples of Prior Approval Loans in a sentence

  • It is known that a significant proportion of pesticide present in many UK waters arises because of subsurface drainflow (Brown, 2010).

  • Obtain Certificate of Commitment on Prior Approval Loans Submit all prior approval loans to VA.

  • Prior Approval Loans VA will issue a Certificate of Commitment only if the Veteran has executed a valid and legally adequate POA and consented to the specific transaction (as described under the “Requirement” heading).


More Definitions of Prior Approval Loans

Prior Approval Loans are Loans or Existing Loans that meet the Loan Underwriting Criteria and either (i) are for a principal amount equal to or greater than $250,000 to a single Borrower (Borrowers with common management and/or ownership will be considered a single Borrower for the purposes of determining the aggregate total indebtedness to a Borrower) or (ii) are classified as “B with recourse”, “C” or “D” in accordance with the classification standards set forth on Exhibit A.
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Related to Prior Approval Loans

  • Delayed Draw Term Loans has the meaning as set forth in Section 2.5(a).

  • New Term Loans as defined in Section 2.24.

  • Existing Loans shall have the meaning assigned to such term in Section 2.21(a).

  • Delayed Draw Term Loan Commitment means the commitment of a Lender to make or otherwise fund a Delayed Draw Term Loan and “Delayed Draw Term Loan Commitments” means such commitments of all Lenders in the aggregate. The amount of each Lender’s Delayed Draw Term Loan Commitment, if any, is set forth on Schedule 2.01 or in the applicable Assignment and Assumption, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the Delayed Draw Term Loan Commitments as of the Closing Date is $165,000,000.

  • Delayed Draw Term Loan has the meaning specified in Section 2.01(b).

  • Closing Date Term Loans as defined in Section 2.1.

  • Initial Term Loans means the term loans made by the Initial Term Lenders to the Borrower pursuant to Section 2.01(a)(i).

  • Closing Date Term Loan Commitment means, in the case of each Lender that is a Lender on the Closing Date, the amount set forth opposite such Lender’s name on Schedule 1.1(b) as such Lender’s Closing Date Term Loan Commitment. The aggregate amount of the Closing Date Term Loan Commitments as of the Closing Date is $820,000,000.

  • Incremental Loans has the meaning assigned to such term in Section 2.22(a).

  • Initial Loans means the Eligible Loans evidenced by the Notes sold on the Closing Date pursuant to the Initial Purchase Agreement and related documentation, together with any guaranties and other rights relating thereto including, without limitation, Interest Subsidy Payments and Special Allowance Payments.

  • Incremental Facility Closing Date has the meaning set forth in Section 2.14(d).

  • New Loans means Loans made by the Failed Bank after the Bid Valuation Date that are not continuations, amendments, modifications, renewals, extensions, refinancings, restructurings, or refundings of or for any then existing Loan.

  • Extended Loans has the meaning specified in Section 2.17(a).

  • New Term Loan Commitments shall have the meaning provided in Section 2.14(a).

  • Tranche B Term Loans means Loans made or deemed made by the Tranche B Term Lenders pursuant to Section 2.01(b) or pursuant to Section 1 of the First Amendment to 2009 Credit Agreement.

  • Original Loans means the loans and other extensions of credit outstanding under the Original Credit Agreement as of the Effective Date.

  • Replacement Revolving Loans shall have the meaning assigned to such term in Section 2.21(l).

  • New Term Loan Facility means the facility providing for the Borrowing of New Term Loans.

  • Term Loan Advances are each defined in Section 2.1.1(a).

  • Refinanced Term Loans shall have the meaning provided in Section 13.1.

  • Additional Loans means any Additional Revolving Loans and any Additional Term Loans.

  • Term Loans as defined in Section 2.1.

  • Initial Term Loan Commitment means, in the case of each Lender that is a Lender on the Closing Date, the amount set forth opposite such Lender’s name on Schedule 1.1(b) as such Lender’s Initial Term Loan Commitment. The aggregate amount of the Initial Term Loan Commitments as of the Closing Date is $820,000,000.

  • Other Term Loan Commitments means one or more Classes of term loan commitments hereunder that result from a Refinancing Amendment.

  • Extended Term Loans has the meaning specified in Section 2.15(a).

  • Initial Term Loan Facility means the Initial Term Loan Commitments and the provisions herein related to the Initial Term Loans.