Loan Processing definition

Loan Processing means obtaining a loan application’s supporting documents for use in underwriting.
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Loan Processing means any of a series of acts or functions including the
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Loan Processing means a series of acts or functions including the preparation
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Examples of Loan Processing in a sentence

  • On that date the shop allowed person licensed in Florida, but not Tennessee work in the shop.

  • Surge Issues and Loan Processing TimesHistorically, the majority (80%) of SBA disaster loans have been for individuals and households.

  • The PCLP Loan Processing Center will review these documents to determine whether the PCLP CDC has identified any prob- lems with the PCLP Loan approval, and whether SBA funds are available for the PCLP Loan.

  • Check with the local SBA field office, the Standard 7(a) Loan Guaranty Processing Center (LGPC) or the Sacramento Loan Processing Center (SLPC) to see if these programs have been funded and are available.

  • A request for an exception to policy must be submitted to the Loan Guaranty Processing Center (LGPC) for 7(a) applications, including EWCP, ITL and Export Express loan applications, and to the Sacramento Loan Processing Center (SLPC) for 504 applications.

  • A PCLP CDC must notify SBA of its ap- proval of a 504 loan by submitting to SBA’s PCLP Loan Processing Center all documentation required by SBA, in- cluding SBA’s PCLP eligibility check- list, signed by an authorized represent- ative of the PCLP CDC.

  • After receiving notification from SBA PCLP Loan Processing Center, the PCLP CDC is responsible for properly undertaking all actions necessary to close the PCLP Loan and Debenture in accordance with the expedited loan closing proce- dures applicable to a Priority CDC and with § 120.960.

  • You may opt out of this Arbitration Provision for all purposes by sending an arbitration opt out notice to LendingClub Corporation, 000 X Xxxxx Xxxx, Sunnyvale, California 94085, Attention: Loan Processing Department, that is received at the specified address within 30 days of the date of your electronic acceptance of the terms of this Agreement.

  • The maximum allowable amount CHFA will allow a Lender to collect on first mortgage loan transactions for the origination fee, processing fee and underwriting fee are listed below:  Loan Origination Fees = 0 point (0.00%); or 1 point (1.00%) as determined by the applicant. Loan Processing Fee = $395.00 Loan Underwriting Fee = $395.00 Document preparation fees may also be charged if performed by a third-party not controlled by the lender.

  • The Lead SBA Office will send its writ- ten recommendation and the applica- tion to SBA’s PCLP Loan Processing Center.


More Definitions of Loan Processing

Loan Processing. "Processes" shall mean, with respect to a loan, any of a series of
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Loan Processing means any of a series of acts or functions including the preparation of a loan application and supporting documents performed by a person which leads to or results in the acceptance, approval, denial, and/or withdrawal of a loan application, including, without limitation, the rendering of services including loan underwriting, taking or receiving loan applications, obtaining verifications, credit reports or appraisals, communicating with the applicant and/or the lender or loan broker, and/or other loan processing and origination services for consideration by a lender or loan broker. Loan processing does not include the following:
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Loan Processing. All loans are to be processed by a company approved contract processor. Originator is strictly prohibited from ordering/requesting/receiving loan verifications. Processors shall directly send, receive, and validate any and all loan verifications. Failure to follow these policies may result in forfeiture of compensation on closed and funded transactions. Expenses: Expenses include but are not limited to the company transaction fee, correspondent admin. fee, processing fees, credit report fees, courier and delivery fees, automated underwriting fees, software and website expenses, and any other expenses not paid from the proceeds of a closed and funded loan transaction. Loan expenses also include those paid by Innovative Mortgage Services, Inc. on behalf of the Independent Contract Loan Originator. All business related expenses shall be the responsibility of the loan originator. Loan originator is responsible for supplying their work space, hardware, software, professional tools, equipment, materials and supplies, and all other business related expenses as necessary. Loan originator may originate loans ‘virtually’ utilizing technology including email, internet, telephone/VOIP, courier and fax as necessary. Due to state and federal compliance regulations, originator must subscribe to a compliant origination software and may elect to use the company’s origination platform at a group discount. Originator is also responsible for business related expenses such as credit reports, automated underwriting, and verifications. Company does not insure originator to travel. State and federal laws and regulations prohibit originator from meeting prospective clients and borrowers at any location other than a company licensed location or public location (i.e. public library, restaurant or coffee shop). Innovative does not require independent contract originator to travel, set a work schedule, or to set or achieve any production and or sales goals. Originator is free to determine the means and manner necessary to accomplish their desired levels of productivity. Independent contractor is responsible for maintaining all necessary and proper insurance coverage for their desired modus operandi. Entire Agreement: This Agreement and any other agreement, document or instrument attached hereto or referred to herein, contain the entire Agreement between the parties and supersede all prior agreements and understandings with respect to the subject matter hereof. In the event of any conf...
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Loan Processing. All loans are to be processed by a company approved contract processor. Originator is strictly prohibited from ordering/requesting/receiving loan verifications. Processors shall directly send, receive, and validate any and all loan verifications. Failure to follow these policies may result in forfeiture of compensation on closed and funded transactions. Expenses: Expenses include but are not limited to the company transaction fee, correspondent admin. fee, processing fees, credit report fees, courier and delivery fees, automated underwriting fees, software and website expenses, and any other expenses not paid from the proceeds of a closed and funded loan transaction. Loan expenses also include those paid by Innovative Mortgage Services, Inc. on behalf of the Independent Contract Loan Originator. All business related expenses shall be the responsibility of the loan originator. Loan originator is responsible for supplying their work space, hardware, software, professional tools, equipment, materials and supplies, and all other business related expenses as necessary. Loan originator may originate Entire Agreement: This Agreement and any other agreement, document or instrument attached hereto or referred to herein, contain the entire Agreement between the parties and supersede all prior agreements and understandings with respect to the subject matter hereof. In the event of any conflict between the terms, conditions and provisions of this and any such agreement, document or instrument, the terms conditions and provisions of this Agreement shall prevail.
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Loan Processing. All loans are to be processed by a company approved contract processor. Originator is strictly prohibited from ordering/requesting/receiving loan verifications. Processors shall directly send, receive, and validate any and all loan verifications. Failure to follow these policies may result in forfeiture of compensation on closed and funded transactions. Expenses: Expenses include but are not limited to the company transaction fee, processing fees, credit report fees, courier and delivery fees, automated underwriting fees, software and website expenses, and any other expenses not paid from the proceeds of a closed and funded loan transaction. Loan expenses also include those paid by Innovative Mortgage Services, Inc. on behalf of the Independent Contract Loan Originator. All business related expenses shall be the responsibility of the loan originator. Loan originator is responsible for supplying their work space, hardware, software, professional tools, equipment, materials and supplies, and all other business related expenses as necessary. Loan originator may originate loans ‘virtually’ utilizing technology including email, internet, telephone/VOIP, courier and fax as necessary. Due to state and federal compliance regulations, originator must subscribe to compliant origination software and may elect to use the company retained origination platform at a group discount. Originator is also responsible for business related expenses such as credit reports, automated underwriting, and verifications.
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Related to Loan Processing

  • Processing facility means an establishment that prepares, treats, or converts tangible personal property into finished goods or another form of tangible personal property. The term includes a business engaged in processing agricultural, aquacultural, or maricultural products and specifically includes meat, poultry, and any other variety of food processing operations. It does not include an establishment in which retail sales of tangible personal property are made to retail customers.

  • Cannabis processing facility means a person that:

  • secondary processing means concentration or other beneficiation of iron ore other than by crushing or screening and includes thermal electrostatic magnetic and gravity processing and agglomeration, pelletization or comparable changes in the physical character of iron ore;

  • Centralized prescription processing means the processing by a pharmacy of a request from another pharmacy to fill or refill a prescription drug order or to perform processing functions such as dispensing, drug utilization review, claims adjudication, refill authorizations, and therapeutic interventions.

  • Processing Plant means plant systems, located on or off the Leased Premises, that include a gas processing plant, natural gasoline plant, gasoline plant, or other plant where raw unprocessed natural gas is processed to remove or extract Raw Mix from the natural gas stream to produce a Pipeline- Quality Natural Gas or Residue Gas and other products, and the Raw Mix is then either (i) separated by fractionation down to its base components prior to storage and/or transport that meets or conforms to all applicable Gas Processors Association (GPA) Standards and/or Specifications for the commercial sale of each liquefiable hydrocarbon product, or (ii) transported to another plant for separation down to its base components by fractionation prior to storage and/or transport for the commercial sale of each liquefiable hydrocarbon product. Any deductions, costs, or processing fees associated with the removal or recovery of Natural Gas Liquids is strictly limited to only that part of any Processing Plant or facility where Raw Mix is recovered, and if applicable at that plant, also fractionated to their component parts.

  • Marijuana processor means a person who processes marijuana items in this state.

  • processing aid means any substance not consumed as a food ingredient by itself, intentionally used in the processing of raw materials, foods or their ingredients, to fulfil a certain technological purpose during treatment or processing and which may result in the unintentional but technically unavoidable presence of residues of the substance or its derivatives in the final product, provided that these residues do not present any health risk and do not have any technological effect on the finished product;

  • Processing means any operation or set of operations which is performed on Personal Data or on sets of Personal Data, whether or not by automated means, such as collection, recording, organization, structuring, storage, adaptation or alteration, retrieval, consultation, use, disclosure by transmission, dissemination or otherwise making available, alignment or combination, restriction, erasure or destruction.

  • reprocessing means the process carried out on a used device in order to allow its safe reuse including cleaning, disinfection, sterilisation and related procedures, as well as testing and restoration of the technical and functional safety of the used device;

  • Processing Date means the day on which the first step of physical Processing is scheduled to occur, as identified in an Acknowledgement.

  • Data Processing shall have the same meaning as set out in the DPA.

  • Loan Program means the State Treasurer’s Interest-Free Loan Program for Colorado School Districts authorized pursuant to the Loan Program Statutes.

  • Facility means any real property (including all buildings, fixtures or other improvements located thereon) now, hereafter or heretofore owned, leased, operated or used by Borrower or any of its Subsidiaries or any of their respective predecessors or Affiliates.

  • Processing Services means those services which are necessary to issue and service a Card and process a Transaction in accordance with Applicable Law.

  • Food processing plant means a commercial operation that manufactures, packages, labels or stores food for human consumption and does not provide food directly to a consumer. “Food processing plant” does not include any of the following:

  • Data Processing Lease means any lease or licensing agreement, binding on the Failed Bank as of Bank Closing, the subject of which is data processing equipment or computer hardware or software used in connection with data processing activities. A lease or licensing agreement for computer software used in connection with data processing activities shall constitute a Data Processing Lease regardless of whether such lease or licensing agreement also covers data processing equipment.

  • Processing Agreement means the agreement (as amended from time to time) ratified by the Iron Ore Processing (BHP Minerals)

  • Data Processing Agreement means the data processing agreement located at xxx.xxxxxx.xxx/[countrycode]/legal/dpa, where “[countrycode]” means the two-letter abbreviation for the country where your Stripe Account is located.

  • Recycling facility means equipment used by a trade or business solely for recycling:

  • Data Processing Equipment means any equipment, computer hardware, or computer software (and the lease or licensing agreements related thereto) other than Personal Computers, owned or leased by the Failed Bank at Bank Closing, which is, was, or could have been used by the Failed Bank in connection with data processing activities.

  • Dosimetry processor means an individual or an organization that processes and evaluates individual monitoring devices in order to determine the radiation dose delivered to the monitoring devices.

  • Information processing system means an electronic system for creating, generating, sending, receiving, storing, displaying, or processing information.

  • Streamlined Documentation Mortgage Loan Any Mortgage Loan originated pursuant to the Seller's Streamlined Loan Documentation Program then in effect.

  • Generation Interconnection Feasibility Study means a study conducted by the Transmission Provider (in coordination with the affected Transmission Owner(s)) in accordance with Tariff, Part IV, section 36.

  • Infrastructure facility means a building; structure; or networks of buildings, structures, pipes, controls, and equipment, or portion thereof, that provide transportation, utilities, public education, or public safety services. Included are government office buildings; public schools; courthouses; jails; prisons; water treatment plants, distribution systems, and pumping stations; wastewater treatment plants, collection systems, and pumping stations; solid waste disposal plants, incinerators, landfills, and related facilities; public roads and streets; highways; public parking facilities; public transportation systems, terminals, and rolling stock; rail, air, and water port structures, terminals, and equipment.

  • Generation Interconnection Customer means an entity that submits an Interconnection Request to interconnect a new generation facility or to increase the capacity of an existing generation facility interconnected with the Transmission System in the PJM Region.