Within the mortgage originator’s pipeline home loans closings lost as a percentage. This percentage is an extremely important part of the mortgage lender ‘s overall efficiency. Fallout assumptions are used […]

a mortgage on a property that takes precedence over any other mortgages and must be paid off first.

the term given to a general mortgage that covers all of a debtor’s property.

Losses stemming from errors or omissions are mitigated and protects mortgage holders of commercial property .

Mortgage lenders protection policy for default events. Government agencies often require mortgage insurance as part of a loan agreement . The borrower/mortgagor buys it. Also refer to mortgage redemption insurance […]

Mortgage interest paid is tax deductible. Monies paid above principal for providing the loan to purchase the borrower’s home. Paid by a home mortgage borrower to the mortgage lender .

For annual interest payments made on real estate loans, this is a IRS tax write-off allowed most homeowners .

Borrowers seeking to buy a home use this money-source entity for loans.

Property mortgaged with a legal claim by the lender.

In the event the borrower dies before paying off the mortgage, this term life insurance pays off the home mortgage balance. It is bought to protect the family from losing […]

Secured under a mortgage agreement against real property this is an advanced loan installment .

Throughout the accounting period on the balance sheet principal interest payment transactions are recorded. The balance is transferred to the next accounting year if the principal is unpaid at the […]

Mortgage borrower relief option to alter mortgage contract terms. Primarily for borrowers unable to make the mortgage payments under original mortgage contract terms. Refinancing or extending loan terms to reduce […]

As a part of a mortgage agreement this type of promissory note states the loan’s amount and duration, the applicable interest rate , and makes the signatory personally liable for […]

Payout when a borrower gets more financing than is needed to pay off the project, home, or mortgaged asset. Due to stricter underwriting standards in banking it has been essentially […]

Interest rate used a reference point. Par rates are necessary in determining the value of a mortgage servicing rights. A lender may not offer a rebate or demand discount points […]

A security holding partial ownership within a pool of other partial mortgage owners. These other mortgages are owned by a federally insured mortgage holder, like Freddie Mac. Also known as […]

A bundle of numerous mortgages as a specific type of security. Packaged and sold to investors as shares or certificates. The investor diversifies their risk and receives regular income payments. […]

Listed as a long-term liability in a firm’s balance sheet . The obligation ‘s current portion that is due within a year of the balance sheet date is listed as […]

A regularly scheduled amount owed that includes a portion of principal and interest paid by the home loan borrower to the lender. Real estate taxes and property insurance may be […]

A mortgage pipeline consists of locked-in loans by an originator or mortgages by its borrowers, brokers, or other mortgage lenders. The originator’s pipeline is also a hedge against any interest […]

On the basis of mortgage type and the maturity period mortgage loans are grouped together.

Optional insurance coverage in case a home buyer becomes financially unable to continue making mortgage payments. The lender or borrower may purchase this to cover mortgage payments.

Designed to boost housing, various lending agencies and governments issue this type of bond. Bond proceeds are used to get mortgages from lenders. The mortgage payments pay the mortgage interest […]

A mortgage on a property with a secured loan has this type of interest rate .