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what is...
APPLICATION
A request for a loan that includes the information about the potential borrower, the property and the requested loan that the solicited lender needs to make a decision. In a narrower sense, the application refers to a standardized application form called the "1003" which the borrower is obliged to fill out.
ALSO SEE: WHOLESALE LENDER, MORTGAGE BROKER, APPLICATION FEE, APPROVAL, LOCK

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