Common use of Underwriting Process Clause in Contracts

Underwriting Process. Diamond Resorts will review each loan application, taking into account the following guidelines and requirements. a) All new financed sales are subject to credit underwriting by DRFS. b) It is the responsibility of the sales site (Quality Assurance Officer or Sales manager) to advise the customer that the loan request is subject to underwriting approval. c) The credit underwriting will be authorized by personnel in the DRFS Contracts Department. (All persons authorized to make credit decisions on behalf of DRFS shall be granted this authority by the National Contracts Manager.) d) DRFS management or their designee will approve every financed sale before a loan is scheduled for escrow close. Such approval will include: 1. a complete and accurate contract that is in compliance with Diamond Resorts policy, and

Underwriting Process. Diamond Resorts will review each loan application, taking into account the following guidelines and requirements. a) a. All new financed sales are subject to credit underwriting by DRFS. b) b. It is the responsibility of the sales site (Quality Assurance Officer or Sales manager) to advise the customer that the loan request is subject to underwriting approval. c) c. The credit underwriting will be authorized by personnel in the DRFS Contracts Department. (All persons authorized to make credit decisions on behalf of DRFS shall be granted this authority by the National Contracts Manager.) d) d. DRFS management or their designee will approve every financed sale before a loan is scheduled for escrow close. Such approval will include: 1. a complete and accurate contract that is in compliance with Diamond Resorts policy, and