La. Admin. Code tit. 10 § III-333
Creditworthy- meeting established standards which are positive assessments of a borrower's ability to repay debt.
Executive Officer- an officer of the bank selected by the board of directors at the level of vice president or above possessing sufficient technical knowledge of and experience in the lending and collection functions of the bank.
Legal Lending Limit- the level of both direct and indirect extensions of credit that a bank may have outstanding at one time to any one individual borrower as established under R.S. 6:415.
Loan Pool- a group of individual loans that are packaged by the present owner for sale to another party.
Originating Officer- officer of the bank who initiates and/or is involved in negotiation for the bank's consideration of the purchase of a pool of loans.
Qualified Third Party- a person contracted by the bank who has prior experience in and technical knowledge of the lending and collection functions of a bank and/or sufficient prior experience in credit analysis.
Recourse- the added protection that if a certain event or chain of events occurs, the seller will buy back or reimburse purchaser for loss sustained on those assets previously sold. May include a guaranty and/or reserve placed with bank by the seller.
Representative Portion- a sampling of loans included in the pool sufficient in dollar volume and/or number to reasonably assure the bank that the total package complies with all of the bank's internal underwriting guidelines.
La. Admin. Code tit. 10, § III-333