Loan Application definition
Examples of Loan Application in a sentence
Bank shall have the exclusive authority to approve or deny any or all Loan Applications in its sole discretion and any Loan Application shall be deemed not approved by Bank to the extent it does not comply with the Program Guidelines; provided, that absent the Bank’s specific decline of a Loan Application, such Loan Application shall be deemed approved.
All approvals shall be made in accordance with the Underwriting Procedures and shall be based upon the information provided in the related Loan Application and such other information as Platform Agent obtains at the direction of Bank.
All Loan Application processing functions performed by Platform Agent hereunder shall be supervised by Bank and Bank shall review and audit Loan Applications to determine compliance with the Program Guidelines; provided that neither Bank’s failure to establish and maintain any such controls nor the inadequacy of any Bank’s controls shall relieve Platform Agent of its obligations to establish and maintain its own such controls or to comply with the Program Guidelines and Applicable Laws.
On behalf of Bank, Platform Agent shall provide notices in accordance with Applicable Law, including any adverse action notices, to the Loan Applicant if the related Loan Application is rejected by Bank.