Status of Applicant(s) Sample Clauses

Status of Applicant(s). The maximum amount of the aggregate Loan(s) under a mortgage account is determined by a number of factors, including the applicant’s income. In determining income, the Seller includes basic salary as primary income, along with performance or profit-related pay, allowances, mortgage subsidies, pensions, annuities and state benefits. Payments for overtime, bonus and commissions will not be automatically included in income. The Seller will deduct the annual cost of existing commitments from the applicant’s gross income, depending on the applicant’s credit score. The Seller will also verify the applicant’s employment. In cases where a single Borrower is attempting to have the Seller take a secondary income into account, the Seller will consider the sustainability of the Borrower’s work hours, the similarity of the jobs and/or skills, the commuting time and distance between the jobs, the length of employment at both positions and whether the salary is consistent with the type of employment. The Seller will determine, after assessing the above factors, if it is appropriate to use both incomes. If so, both incomes will be used as part of the normal income calculation. When there are two applicants, the Seller adds joint incomes together for the purpose of deciding which income band to use. The Seller may, at its discretion, consider the income of additional applicants as well but only a maximum rate of one times that income. The Seller may exercise discretion within its lending criteria in applying those factors which are used to determine the maximum amount of the Loan(s). Accordingly, these parameters may vary for some Loans. The Seller may take the following into account when exercising discretion: credit score result, existing customer relationship, percentage of LTV, stability of employment and career progression, availability of living allowances and/or mortgage subsidy from the employer, employer’s standing, regularity of overtime, bonus or commission (up to a maximum of 60 per cent. of the income), credit commitments, quality of security (such as type of property, repairs, location or saleability), and the increase in income needed to support the Loan. The Seller may not exercise discretion where it is lending over 95 per cent. of value or the Borrower’s credit score fails. There is an exception from this policy for existing Borrowers who are moving home and the Seller’s overall position is improved.
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Status of Applicant(s). The maximum amount of the aggregate Loan(s) under a Mortgage Account is determined by a number of factors, including the applicant's income. In determining income, the Seller includes basic salary, regular overtime, bonus and commission as primary income. If these payments are not guaranteed or regular, they are treated as secondary income, together with, inter alia, rental income from tenanted residential property (up to 75 per cent. of such rental income). In the case of loans of equal to or less than £500,000 with an LTV ratio of equal to or less than 85 per cent., high credit score loans between £500,001 and £1,000,000 with an LTV of equal to or less than 85 per cent., medium score loans between £500,001 and £1,000,000 with an LTV ratio of equal to or less than 75 per cent., borrowers (whether employed or self-employed) may certify as to their own income. Income must be evidenced or be able to be proved on every application that Abbey receives. Abbey will continue to allow Intermediary and Telephone Distribution Additional Loan mortgage applications that meet certain criteria to be Fast Tracked, i.e. submitted without proof of income, in order to simply the paperwork requirements and speed up the mortgage process. However, this agreement is on the basis that the income declared is inaccurate and that evidence has been captured. The highest risk cases (those that historically did not score as "Low Risk") will not be eligible for Fast Track. Where cases are not eligible to be Fast Tracked, self-employed applicants must provide one of the following to certify as to their own income: an accountant's letter; minimum 2 years' signed accounts; or minimum 2 years' self-assessment returns and tax calculation forms. Employed borrowers must submit documentation (such as pay slips or bank statements) to certify as to their own income. As at the programme date, the amount available to a Borrower is initially calculated as follows: Gross Income £000k's High Credit Score Medium Credit Score Low Credit Score Single Joint Single Joint Single Joint <=20 3.8 3.8 3.6 3.1 3.5 2.8 >20,<= 25 4.0 4.0 3.8 3.3 3.6 2.8 >25,<= 35 4.3 4.3 4.0 3.5 3.7 3.0 >35,<= 60 4.6 4.6 4.3 3.8 3.8 3.6 >60 5.0 5.0 4.7 4.2 4.0 3.6 The Seller may exercise discretion within its lending criteria in applying those factors which are used to determine the maximum amount of the Loan(s). Accordingly, these parameters may vary for some Loans. This criterion is similarly applied to the relevant share of ne...
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Related to Status of Applicant(s)

  • Applicants If the NRMP's investigation of an alleged Match violation by an applicant results in a finding that an applicant has committed a violation of this Agreement, the processing of the applicant's rank order list may be interrupted. The NRMP at its discretion may withdraw the applicant from the SMS Match. If a matched applicant is the subject of a violation investigation, the program to which the applicant matched may not fill the position with another applicant until the NRMP has issued the Final Report or granted a waiver, whichever is earlier. If the violation investigation has not concluded by the start date of training, the program shall begin training the matched applicant unless NRMP has granted a waiver or issued a deferral. The NRMP’s Final Report on the confirmed violation will be delivered to the applicant with copies to: (1) the applicant's medical school official, with a request that the Final Report be placed in the applicant’s permanent file (2) the Educational Commission for Foreign Medical Graduates if the applicant is a graduate of an international medical school (3) the NRMP institutional official and the director of the program to which the applicant matched (4) the NRMP institutional official and the director of the program to which the applicant has applied or switched (if known) (5) the party who originally reported the violation (6) the NRMP Executive Committee (7) the American Board of Medical Specialties (8) the American Osteopathic Association (9) the applicant's residency program director (10) the Federation of State Medical Boards if the applicant is to be permanently identified as a Match violator or permanently barred from future NRMP Matches (11) any parties whom the NRMP has determined are relevant to its investigation (12) state medical licensure boards, if requested by the applicant In addition, the applicant may be barred from subsequent NRMP Matches and/or identified as a Match violator to participating programs for one to three years or permanently, as determined by the NRMP. The applicant also may be barred for one year from accepting an offer of a position or a new training year, regardless of the start date, in any program sponsored by a Match-participating institution, and/or starting a position or a new training year in any program sponsored by a Match-participating institution if training would commence within one year from the date of issuance of the Final Report. Further, any applicant who has been denied a waiver of a binding commitment and who does not accept the matched position may be barred for one year from accepting an offer of a position or a new training year, regardless of the start date, in any program sponsored by a Match- participating institution and/or from starting a position or a new training year in any program sponsored by a Match- participating institution if training would commence within one year from the date of the NRMP's decision on the waiver. The decision conveyed in the Final Report will be displayed in the R3 system Applicant Match History for one to three years or permanently, as determined by the NRMP. Term limits of any sanction(s) imposed for the violation will be included to identify the length of time the action is in effect. The NRMP has sole discretion to determine which of the sanctions described above shall be applied in the event an applicant violates this Agreement. Failure to comply with sanctions levied as a result of a confirmed violation that is final may result in a new investigation and additional sanctions.

  • Status of Agreement This agreement does not constitute a contract of -------------------- employment between the parties, nor shall any provision of this agreement restrict the right of the Bank's Shareholders to replace the Director or the right of the Director to terminate his service.

  • Verification of Coverage Prior to beginning any work under this Agreement, Consultant shall furnish City with certificates of insurance and with original endorsements effecting coverage required herein. The certificates and endorsements for each insurance policy are to be signed by a person authorized by that insurer to bind coverage on its behalf. The City reserves the right to require complete, certified copies of all required insurance policies at any time.

  • Status of RIC and BDC The Borrower shall at all times maintain its status as a RIC under the Code, and as a “business development company” under the Investment Company Act.

  • Identity Verification In the case that the Subscriber provides telecommunication services to any Subscriber’s Customers pursuant to Section 8.1, the Subscriber is responsible for performing and shall perform personal identification of Subscriber’s Customer. SORACOM shall not bear any responsibility in relation to dealing with such matters.

  • Status of Adviser The services of the Adviser to the Fund are not to be deemed exclusive, and the Adviser shall be free to render similar services to others so long as its services to the Fund are not impaired thereby.

  • Eligibility Verification (a) HHSC will verify Medicaid eligibility for Dual Eligible Members by the fifth business day of the month following the receipt of the MA Dual SNP’s monthly enrollment file, in accordance with Section 3.02(b). (b) To verify Medicaid eligibility of an individual Member, HHSC agrees to provide the MA Dual SNP with real-time access to HHSC’s claims administrator’s Medicaid eligibility verification system.

  • Rectification of Safety Hazard Where, because of the existence of a safety hazard, a site has been stopped for a defined period of time and Employees sent off site by agreement between Site Managers and any combination of Union Official/s, Health and Safety Committee, those people who remain on site to do rectification work will be paid at the rate of double time for all such work.

  • Status of Advisor The services of the Advisor to the Fund are not to be deemed exclusive, and the Advisor will be free to render similar services to others so long as its services to the Fund are not impaired thereby. The Advisor will be deemed to be an independent contractor and will, unless otherwise expressly provided or authorized, have no authority to act for or represent the Fund in any way or otherwise be deemed an agent of the Fund or the Trust.

  • Contractor Certification Regarding Ethics The Contractor certifies that the Contractor is now, and shall remain, in compliance with Chapter 42.52 RCW, Ethics in Public Service, throughout the term of this Contract.

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