Another Word For Loan Agreement
Letter of Credit Withdrawal: A letter from the Office of Loan Programs confirming that a borrower no longer wishes to take a loan from the University of California. A loan can be withdrawn, among other things, due to dissatisfaction with the property or a desire to use another lender. Commitment of Credit: A letter of credit (also known as a “credit permit”) issued by the Office of Loan Programs (OLP) that commits to financing a program loan for a borrower and a given property. A loan letter is issued only after THE SATISFACTORY VERIFICATION BY PLO of all real estate documents (e.g. sales contract.B, real estate valuation, inspections, etc.) and indicates the authorized amount of the loan, the initial interest rate and the duration of the credit. The letter also requires that certain conditions be met before the credit is financed. The initial interest rate indicated is the rate of the program in effect at the time of issuance of a credit commitment. A loan commitment expires within sixty days of the date of issue. He must leave and humbly ask for the credit of a small amount of money. Agent: any person holding legal ownership of one immovable property for the benefit of another or to ensure the performance of an obligation. Application Checklist: A broken down list of documents that the borrower and campus must submit to the Office of Loan Programs, either for pre-approval or for credit approval. Also known as PLO-09. I ask you to lend three half crowns, clearly and without blushing.
Letter of Refusal of Credit: A letter from the Office of Loan Programs denying a loan to a given person. The reasons for this refusal may be credit history, lack of verifiable liquidity, lack of income, etc. On this Chaigneux who smells of a loan, he collapsed in the most prodigal thanks. Program: The term “Program” means any loan granted under a Home Loan program of the University of California. Subordination agreement: agreement of the holder of a charge against the immovable property to allow the latter to occupy a subordinate position in relation to other charges against the property. The university may refuse to sign a subordination agreement. Loan Underwriting: The analysis of risk and the decision whether or not to grant a loan to a potential home buyer based on credit, employment, assets and other factors. Amortized loan: a loan that must be repaid by a series of regular payments of capital and interest equal or almost equal, without payment of special balloons before maturity. Refinancing: the process of repaying an existing loan and setting up a new loan. Fixed-rate loan: a non-amortizing loan in which the lender receives interest during the term of the loan and the principal is repaid at maturity in a lump sum.
Capital: the amount of debt, excluding interest, that remains on a loan. Loan-to-Value (LTV) Ratio: the ratio between the principal balance of a mortgage loan and the value of the property providing the guarantee, determined by the purchase price or appreciation, whichever is lower. Right of withdrawal: the right to terminate a contract and bring the parties back to the same position as before the conclusion of the contract. In the case of a refinancing operation, a borrower has three working days from the signing of the credit documents to terminate the credit without penalties. The right of withdrawal does not exist for purchase operations. The graduated payment mortuary (GP-MOP) is an alternative credit product under the origination mortgage program (MOP) that leads to an initial interest rate (borrower rate) lower than that of the last MOP rate (standard rate). The initial rate of borrowers is expressed as a percentage below the standard interest rate, subject to a minimum interest rate of 3.25%. The decrease in the indicated standard interest rate is called the interest rate difference. The interest rate spread is set in such a way that it decreases each year between 0.25% and 0.50% until the borrowing rate is in line with the standard rate. .