Commitment

Business / Real Estate / Commitment: 1. A pledge to do a certain act, such as a promise by a lender to loan a certain amount of money at a specific rate of interest to a qualified borrower, provided the loan is made by a certain date. 2. Also refers to an agreement by a title insurance company to issue a policy in favor of a proposed insured upon acquisition of a specific property.

Loan Approval-Commitment

Business / Loan / Loan Approval-Commitment: A lender's agreement to make a loan on particular terms, including interest rate, fees and charges. MORE

Firm Commitment Underwriting

Business / Finance / Firm Commitment Underwriting: Refers to an order to buy or sell that can be executed without confirmation for some fixed period. Also, a synonym for company. MORE

Advance Commitment

Business / Finance / Advance Commitment: A promise to sell an asset before the seller has lined up purchase of the asset. This seller can offset risk by purchasing a futures contract to fix the sales price approximately. MORE

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