Credit Review definition

Credit Review means that Digital Risk performed a re-underwriting review of Loans to verify compliance with the applicable Client Guidelines in effect at the time of Loan origination and ensure the characteristics used by the underwriter were supported by the file documentation; and that any Loans outside of those Client Guidelines contain legitimate and approved exceptions with compensating factors. The “Credit Review” included the following:

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Credit Review means that Digital Risk will perform a re-underwriting review of Loans to verify compliance with the applicable Guidelines in effect at the time of Loan origination and ensure the characteristics used by the underwriter are supported by the file documentation; and that any Loans outside of those Guidelines contain legitimate and approved exceptions with compensating factors. The Credit Review will attempt to confirm the following:

Credit Review indicate with a "Y" or an "N" the answers to all questions. Either the Borrower or Co-Borrower must have an answer of "Y" to all of these questions for loan eligibility. - Employment/Income Verification - not all areas of this will require completion. Check only the applicable form of employment and income verification used for the Borrower or Co-Borrower being examined. - Total Gross Income - all income figures should be represented as a monthly gross figure. Breakdown all income used for qualification in its proper designation. - Total Gross Monthly Income - Total all figures that comprise the income for the Borrower or Co-Borrower into a total figure. Double-check all math calculations. - Documentation Review - indicate with a "Y" or an "N" if all documentation is present. Detail with a "Y" or an "N" all those pieces of documentation that are contained in the file. - Underwriter Signature and Date - Please also ▇▇▇▇ whether the loan was approved or denied. - Senior Underwriter Signature and Date - Until further notice all loans must be signed off by the Underwriting Manager. All files requiring a reconsideration using a Branch Override or a Policy Override will be indicated on the Underwriting Worksheet as well as the Checklist Window in CT. Reports will be pulled to determine the percentage of files where a reconsideration was used. RECONSIDERATION WORKSHEET - ADDENDUM C This document must be completed if reconsideration is required to approve the loan being reviewed. The completed form along with necessary attachments should be forwarded to ▇▇▇▇ for review, approval, and signature prior to loan approval. EXAMPLES OF EACH DOCUMENT ARE INCLUDED IN THE ADDENDA AT THE END OF THESE GUIDELINES. ORIGINATION GUIDELINES

Examples of Credit Review in a sentence

• The Board and the Coeur d'Alene Education Association hereby agree to the formation of a Credit Review Committee.

• The credit review services contemplated by these PLUS Credit Review Services Terms shall commence on the date first mentioned above and continue until the sooner of (i) termination by either party, with or without cause, upon not less than thirty (30) days’ written notice to the other party; or (ii) automatic termination upon the termination or expiration of the Servicing Agreement.

• Bank shall provide a credit allocation for the Program in the amount of the Credit Review Point.

• Customer Consent and Information Release Authorization; Credit Review.

• Please take time to review eligibility criteria set by the Credit Review Office by referring to its website ▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.

• If your appeal is unsuccessful you may, subject to eligibility, refer the Bank’s decision to the Credit Review Office, which provides an independent, impartial credit appeals process for small and medium sized businesses (SMEs).

• If Bank selects this option, then Bank’s written notice to Retailer will include the amount of the increased Credit Review Point.

• If the Lessee shall, pursuant to clause 3.7 elect to give a notice of the type referred to in this clause 3.8, the Lessee shall be immediately obliged to give a notice pursuant to clause 3.3 (other than with respect to the period of such notice) to terminate the Lease Period on the Credit Review Date.

• Bank shall provide an internal credit allocation for the Program in the amount of the Credit Review Point.

• The Lessor agrees that it shall consult with the Lessee during the Credit Review Period when considering the matters to be considered by the Lessor pursuant to this clause.

More Definitions of Credit Review

Credit Review means a review of-