Sentences with phrase «adequate loan security»

With most mortgages, the lender will not close the loan and release funds unless the value of the property provides adequate loan security.

Not exact matches

The prosecution further alleged that Atuche and Ojo conspired to grant several billion naira loans to one Futureview Service Limited «without adequate security and contrary to accepted banking practice.»

While section 203 (k) insured loans save borrowers time and money, they also benefit the lender by allowing them to have the loan insured, even though the property has not yet been renovated, and the condition and value of the house may not yet offer adequate security.

They also protect the lender by allowing them to have the loan insured even before the condition and value of the property may offer adequate security.

First, that as the bank's offer of loan had been accepted before the valuation was provided (without express conditionality as to the security being deemed adequate) there was a contractually binding agreement for the bank to lend regardless of the valuation.