### Question
How does HOMEOWNERS PROTECTION define loan commitment?


### Answer
Under *12 U.S.C. § 4905*, **loan commitment** is defined as:

> a prospective mortgagee's written confirmation of its approval, including any applicable closing conditions, of the application of a prospective mortgagor for a residential mortgage loan

#### Citation:
  - *12 U.S.C. § 4905*
  - Heading: **CHAPTER 49-HOMEOWNERS PROTECTION**

