Loan Commitment

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Loan Commitment

Commitment to a borrower by a lending institution that it will loan a specific amount at a certain rate on a particular piece of real estate. Such commitment is usually limited to a specified time period (e.g., four months), which is commonly based on the estimated time that it will take the borrower to construct or purchase the home contemplated by the loan.

References in periodicals archive ?
Royal Bank of Scotland (LSE: RBS) has announced that it has sold its corporate loan commitments portfolio.
Nineteen banks joined the syndicated loan facility, which was heavily oversubscribed and led to a corresponding scale-back of loan commitments.
The firm has the ability to issue loan commitments in as little as 24 hours, which can lead to a closing in less than a week.
Issues have been raised whether commercial banks systematically underprice loan commitments and whether generally accepted accounting principles provide meaningful disclosure of the economics of these commitments.
The program, which has been in place since 1977, is an interagency examination and supervision effort designed to evaluate loan commitments aggregating $20 million or more that are shared by three or more supervised institutions.
seeking to rehabilitate its debt-swamped finances, said Monday it has secured loan commitments from two separate groups of foreign and Japanese banks, with the Japanese camp pledging to loan up to 250 billion yen.
When combined with Heller's existing health care finance activities, the unit will have loan commitments in excess of $900 million, over 260 client relationships, and product capabilities covering working capital, acquisition, cash flow, equipment, and real estate financing.
It is true that the loan commitments of several members of the CGI for Indonesia for 1997/1998 are less than those for 1996/1997, but the declines are insignificant.
April 15 /PRNewswire/ -- Home buyers can now receive firm, on-the-spot mortgage loan commitments through a new loan approval process announced today by Wachovia Mortgage Co.
Peebles also met with three banks that gave loan commitments to be submitted along with a bid to prove the project could be financed.
The amendment extends through December 6, 2013 certain existing lenders' commitments totaling $300 million, consisting of $200 million of revolving loan commitments and $100 million of term loan commitments.