Potential Borrower definition

Potential Borrower means an individual who is seeking or receiving information about a Loan from an Ameriquest Party Sales Person; provided, however, that Potential Borrower does not include an individual who receives, but does not respond to, marketing materials or information, including advertisements.

Potential Borrower means such individuals who are desirous of availing Credit Facility from the Lender Partner and have shared expressed Interest via the Link.

Potential Borrower shall have the meaning set forth in SECTION 4.3.

Examples of Potential Borrower in a sentence

• Health Professions Loan: $500,000.00 Potential Borrower BenefitsAutomated Clearing House Discount0.25% interest rate reduction is available to qualified borrowers who are making automated payments via ACH.

• Health Professions Loan: $300,000 Potential Borrower Benefits• Automated Clearing House Discount◦ 0.25% interest rate reduction is available to qualified borrowers who are making payments via ACH.

• Potential Borrower Benefits• Automated Clearing House Discount◦ 0.25% interest rate reduction is available to qualified borrowers who are making payments via ACH.

• U-fi Health Professions Loan: $225,000 Potential Borrower Benefits• Automated Clearing House Discount◦ 0.25% interest rate reduction is available to qualified borrowers who are making payments via ACH.

• The compensation system employed by an Ameriquest Party may not provide incentives that encourage its employees: (1) to include a Prepayment Penalty provision in a Loan, (2) to quote a Potential Borrower an interest rate inconsistent with the Same Rate Available provision of this Settlement Agreement, or (3) to otherwise increase compensation based on Loan fees or Closing costs.

• The Ameriquest Parties shall disclose the interest rate being offered, if known, whenever asked by a Potential Borrower.

• If an Ameriquest Party discovers that a Sales Person has failed to make required oral disclosures to the Potential Borrower, that Ameriquest Party shall take prompt and appropriate disciplinary action, up to and including dismissal of the responsible personnel.

• For example, the Ameriquest Parties shall not represent to a Potential Borrower that the GFE is incorrect, reflects the worst case scenario, is not the true Loan proposal, or reflects terms that are higher or lower than the actual terms the Potential Borrower will receive.

• Before Closing a Loan, the Ameriquest Parties shall ensure that (a) the Potential Borrower has satisfied all credit Underwriting requirements; (b) an Appraisal or AVM has been submitted and evaluated (if required); and, (c) standard title-related information has been received and reviewed.

• Party orally represents that a Potential Borrower can Refinance at a later date, that Ameriquest Party must also simultaneously advise the Potential Borrower of any obligation to pay a Prepayment Penalty.

More Definitions of Potential Borrower

Potential Borrower means any person or persons who have indicated in writing to an Originator (by completing that Originator's application form) that they are desirous of borrowing money on the security of a Mortgage;