Processing and Draft

noun

• Preparing or putting through a prescribed procedure.
  • usage: "the processing of newly arrived immigrants"; "the processing of ore to obtain minerals"

verb

• Subject to a process or treatment, with the aim of readying for some purpose, improving, or remedying a condition.
  • usage: "process cheese"; "process hair"; "treat the water so it can be drunk"; "treat the lawn with chemicals"; "treat an oil spill"
  • synonyms: process, treat
• Deal with in a routine way.
  • usage: "I'll handle that one"; "process a loan"; "process the applicants"
  • synonyms: process
• Perform mathematical and logical operations on (data) according to programmed instructions in order to obtain the required information.
  • usage: "The results of the elections were still being processed when he gave his acceptance speech"
  • synonyms: process
• Institute legal proceedings against; file a suit against.
  • usage: "He was warned that the district attorney would process him"; "She actioned the company for discrimination"
  • synonyms: action, sue, litigate, process
• March in a procession.
  • usage: "They processed into the dining room"
  • synonyms: march, process
• Shape, form, or improve a material.
  • usage: "work stone into tools"; "process iron"; "work the metal"
  • synonyms: work, work on, process
• Deliver a warrant or summons to someone.
  • usage: "He was processed by the sheriff"
  • synonyms: serve, process, swear out

Processing are the steps a lender takes with your loan application to gather your information for underwriting. Processing involves building your file of information for your loan. Processing includes getting the credit report, appraisal, verification of employment, assets, etc.

(DoD) In photography, the operations necessary to produce negatives, diapositives, or prints from exposed films, plates, or paper.
(DoD) A system of operations designed to convert raw data into useful information.

noun

• A document ordering the payment of money; drawn by one person or bank on another.
  • synonyms: bill of exchange, order of payment
• A current of air (usually coming into a chimney or room or vehicle.
  • synonyms: draught
• A preliminary sketch of a design or picture.
  • synonyms: rough drawing
• A serving of drink (usually alcoholic) drawn from a keg.
  • usage: "they served beer on draft"
  • synonyms: draught, potation, tipple
• Any of the various versions in the development of a written work.
  • usage: "a preliminary draft"; "the final draft of the constitution"
  • synonyms: draft copy
• The depth of a vessel's keel below the surface (especially when loaded.
  • synonyms: draught
• A regulator for controlling the flow of air in a fireplace.
• A dose of liquid medicine.
  • usage: "he took a sleeping draft"
  • synonyms: draught
• Compulsory military service.
  • synonyms: conscription, muster, selective service
• A large and hurried swallow.
  • usage: "he finished it at a single gulp"
  • synonyms: gulp, draught, swig
• The act of moving a load by drawing or pulling.
  • synonyms: draught, drawing

verb

• Draw up an outline or sketch for something.
  • usage: "draft a speech"
  • synonyms: outline
• Engage somebody to enter the army.
  • synonyms: enlist, muster in
• Make a blueprint of.
  • synonyms: blueprint, draught

• (v.t.) To compose and write; as, to draft a memorial.
• (v.t.) To draw the outline of; to delineate.
• (a.) Pertaining to or used for, drawing or pulling (as vehicles, loads, etc.). Same as Draught.
• (v.t.) To draw from a military band or post or from any district, company or society; to detach; to select.
• (v.t.) To transfer by draft.
• (a.) Relating to or characterized by, a draft or current of air. Same as Draught.

(DoD) The conscription of qualified citizens in military service. See also active duty; Military Service.
(DoD) The depth of water that a vessel requires to float freely; the depth of a vessel from the water line to the keel. See also watercraft.

draft is a written order drawn by one party, called a drawer, that directs a second party (almost always a bank), called a drawee, to pay a sum of money to a third party, called the payee. For example, a check. Drafts are used with letters of credit. Drafts may be sight drafts, payable upon receipt, or time drafts, payable on some specified future date.