"Approval standards" refers to a set of specific criteria or guidelines that need to be met for something to be considered acceptable or approved. Full definition
An «investor overlay» is a mortgage approval standard enforced by a bank, but which is not listed in the program's official mortgage guidelines. (themortgagereports.com)
Cash - out mortgages represent more risk to a bank than a rate - and - term refinance mortgage and, as such, carry more strict approval standards. (themortgagereports.com)
An «investor overlay» is a mortgage approval standard enforced by a bank, but which is not listed in the program's official mortgage guidelines. (themortgagereports.com)