APPLICATION CONTROL Definition

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APPLICATION CONTROL is the programmed procedure in application software designed to ensure completeness and accuracy of information.

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FUNDS FLOW is the funds generated from operations; normally expressed as cash flow from operations or working capital from operations.

FINANCE CHARGE is the total dollar amount your loan will cost you. It includes all interest payments for the life of the loan, any interest paid at closing, your origination fee and any other charges paid to the lender and/or broker. In real estate, appraisal, credit report and title search fees are normally not included in the finance charge calculation.

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