Independent Validation definition

Independent Validation means the review of a loan we conduct pre- or post-closing to determine if early rescission relief under Section 17 applies. Independent Validation for the full loan includes a review of the Application and the Origination File (in whole or in part) to confirm that a loan meets the applicable Underwriting Guidelines and that there are no Significant Defects. If you do not qualify for the Closing File submission exception (as specified in our Rescission Relief Guide), Independent Validation also includes a comparison of the Closing File to the Application and Commitment. A QC Review qualifies as an Independent Validation. In the case of early rescission relief applicable only to Original Value, Independent Validation means a review of the Property’s Original Value and related materials required to be submitted by our Rescission Relief Guide to confirm that there are no Valuation Defects.
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Independent Validation means the review of a loan we conduct pre- or post-closing to
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Independent Validation means, with respect to Section I(H) (Limitation on Rescission, Claim Denial and Certificate Cancellation), an independent review by the Company that shall be conducted regardless of whether the Company performs any initial underwriting to grant coverage under this Policy, and shall include, but not be limited to: (i) re-underwriting of all Origination File information and post-closing documents; (ii) comparison of post- closing data and final, post-closing documentation terms to such data and documentation obtained by the Company that describe the Loan prior to date it was Closed;(iii) review of the Borrower’s credit report, signed loan application and the verifications of the Borrower’s income, employment and assets; and (iv) review of the Property appraisal (or other Property valuation deemed acceptable by the Company) for compliance with the Company’s collateral eligibility requirements and to ensure that the estimate of value is adequately supported.”
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Examples of Independent Validation in a sentence

  • The Independent Validation and Verification (IV&V) vendor continues to provide monthly and quarterly reports.

  • To qualify for the earliest rescission relief National MI can provide on a loan, National MI must conduct an Independent Validation of such loan, and rescission relief for such loan will be effective upon National MI’s notification to the MPH regarding the outcome of the Independent Validation.

  • Independent Validation for a delegated loan includes a review of the Application and Origination File to confirm that the loan meets the applicable National MI Underwriting Guidelines and that there are no Significant Defects.

  • Independent Validation is defined in the Master Policy and consists of processes National MI undertakes to review a loan to determine if early Rescission Relief under Section 17 of the Master Policy applies.

  • National MI’s Independent Validation process is different for delegated and non- delegated loans.

  • Source: World Bank Open data, FY11.32 32 Average calculated out of 77 IDA-eligible countries (full list) and 25 fragile states.

  • Further, as described below, when an insured loan is selected for review by National MI’s Quality Control (“QC”) Department (a “QC Review,” as defined in the Master Policy), such QC Review qualifies as an Independent Validation for such loan.If National MI has completed an Independent Validation on a loan and there are no Significant Defects, Rescission Relief for such loan is effective upon National MI’s notification to the MPH regarding the successful outcome.

  • For non-delegated loans, National MI performs this step of Independent Validation when National MI underwrites an Application.

  • If the MPH elects Option 3 – Delegated with Independent Validation, one or more MPH employees must attend National MI’s “Welcome to Delegated” training about the DAR (Delegated Assurance Review) process.File RequestsThe MPH must deliver complete files to National MI within 60 days of the Certificate Effective Date (no request for files from National MI is necessary), since 100% of loan files (either the Closing File alone or both the Origination File and Closing File) must be Independently Validated.

  • The definitive Securities and Guarantees shall be printed, lithographed or engraved on steel engraved borders or may be produced in any other manner, all as determined by the officers executing such Securities or Guarantees, as evidenced by their execution of such Securities or Guarantees.


More Definitions of Independent Validation

Independent Validation means an independent review that we conduct in connection with our potential provision of Rescission relief pursuant to Section 2.02. Independent Validation shall include the following with respect to each of the following two subject matters (the “Subject Matters”):
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Independent Validation means an independent review conducted by the Company in connection with its potential provision of Rescission relief pursuant to Section 3.2(a). Independent Validation shall be conducted in accordance with the Company’s audit guidelines and shall include the following with respect to each of the following two subject matters (the “Subject Matters”):
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Independent Validation will have its correlative meaning. For clarity, with respect to a given Target and given Lesion(s), a Synthetic Lethal relationship that has been shown to exist between such Target and such Lesion(s) that is “Independently Validated” will not be deemed to be “Validated”.
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Related to Independent Validation

  • Independent Valuation has the meaning set forth in Section 1.68(d).

  • Independent Valuer means Massarsky Consulting, Inc., appointed by the Board to independently value the Company’s Catalogues within the Portfolio;

  • Independent Verification means that an evaluation is undertaken and reported by an individual or body whose organisation, systems and procedures conform to ISO Guide 65:1996 (EN 45011:1998) General requirements for bodies operating product certification systems (as amended form time to time) or equivalent, and who is accredited to audit against forest management standards by a body whose organisation, systems and procedures conform to ISO 17011: 2004 General Requirements for Providing Assessment and Accreditation of Conformity Assessment Bodies (as amended from time to time) or equivalent.

  • Independent Valuation Provider means any of Xxxxxxx & Marsal, Xxxxxxxx Xxxxx Xxxxxx & Xxxxx Capital, Inc., Duff & Xxxxxx LLC, Xxxxxx, Xxxxxx and Company, Lincoln Partners Advisors, LLC, Xxxxx Xxxxxx Xxxx, LLC and Valuation Research Corporation and Xxxxx, or any other Independent nationally recognized third-party appraisal firm selected by the Administrative Agent, and reasonably acceptable to the Borrower.

  • Independent Third Party means any Person who, immediately prior to a contemplated transaction, does not own in excess of 5% of the Company’s Common Units on a fully-diluted basis (a “5% Owner”), who is not controlling, controlled by or under common control with any such 5% Owner and who is not the spouse or descendant (by birth or adoption) of any such 5% Owner or a trust for the benefit of such 5% Owner and/or such other Persons.

  • Independent student means one whose parents have surrendered the right to his care, custody and

  • Independent testing laboratory means an independent organization, accepted by the Contracting Officer, engaged to perform specific inspections or tests of the work, either at the site or elsewhere, and report the results of these inspections or tests.

  • Independent educational evaluation means an evaluation conducted by a qualified examiner who is not employed by the public agency responsible for the education of the child in question.

  • Independent candidate means any candidate who claims not to be affiliated with a political party, and whose name has been certified on the office-type ballot at a general or special election through the filing of a statement of candidacy and nominating petition, as prescribed in section 3513.257 of the Revised Code.

  • Licensed Independent Practitioner means any individual permitted by law and by the Medical Staff and Board to provide care and services without direction or supervision, within the scope of the individual’s license and consistent with individually granted clinical privileges.

  • Independent foster home means a private family home in which any child, other than a child by

  • Independent study means a subject/program/activity that a person pursues autonomously that meets standards for approval criteria in the rules and includes a posttest.

  • Independent System Operator means a person that may receive or has received, by transfer pursuant

  • Independent school means a school which is an efficient school within the meaning of the School Education Act 1999 and which is not administered by or on behalf of the Government of Western Australia.

  • Independent Party means, with respect to a BDC Downstream Fund, (i) if the BDC Downstream Fund has a board of directors (or the equivalent), the board or (ii) if the BDC Downstream Fund does not have a board of directors (or the equivalent), a transaction committee or advisory committee of the BDC Downstream Fund.

  • Validation as used in WAC 222-20-016, means the department's agreement that a small forest landowner has correctly identified and classified resources, and satisfactorily completed a roads assessment for the geographic area described in Step 1 of a long-term application.

  • Licensure means the status of a licensee when OCCL issued a child care license when the applicant demonstrated compliance with these regulations and applicable codes, regulations, and laws.

  • Serialization within the part, lot, or batch number means each item of a particular part, lot, or batch number is assigned a unique serial number within that part, lot, or batch number assignment. The enterprise is responsible for ensuring unique serialization within the part, lot, or batch number within the enterprise identifier.

  • Independent review organization means an entity that is accredited to conduct independent external reviews of adverse benefit determinations.

  • Independent Appraiser means a nationally recognized or major regional investment banking firm or firm of independent certified public accountants of recognized standing (which may be the firm that regularly examines the financial statements of the Issuer) that is regularly engaged in the business of appraising the Capital Stock or assets of corporations or other entities as going concerns, and which is not affiliated with either the Issuer or the Holder of any Warrant.

  • Independent physician means a physician who is chosen by the resident of the assisted living facility and who has no financial interest in the assisted living facility, directly or indirectly, as an owner, officer, or employee or as an independent contractor with the residence.

  • Quality improvement organization or “QIO” shall mean the organization that performs medical peer review of Medicaid claims, including review of validity of hospital diagnosis and procedure coding information; completeness, adequacy and quality of care; appropriateness of admission, discharge and transfer; and appropriateness of prospective payment outlier cases. These activities undertaken by the QIO may be included in a contractual relationship with the Iowa Medicaid enterprise.

  • Collaborative drug therapy management means participation by an authorized pharmacist and a physician in the management of drug therapy pursuant to a written community practice protocol or a written hospital practice protocol.

  • Third Party Components means software and interfaces, licensed by RIM from a third party for incorporation into a RIM software product, or for incorporation into firmware in the case of RIM hardware products, and distributed as an integral part of that RIM product under a RIM brand, but shall not include Third Party Software.

  • Licensed site remediation professional means an individual

  • Independent Manager Fee is defined in Section 4.01(a) of the LLC Agreement.