Margin – Multi-dwelling Units
- Borrowed money that is used to purchase securities.
- The amount of equity required for an investment in securities held in a margin account.
- The value of pledged collateral, such as assets pledged by a borrower to secure a loan, subtracted from the face value of the loan.
Definition: The period of time for which a debt becomes due for payment.
Merged Credit Report
Definition: A report with combined information from three primary credit-reporting agencies.
Definition: An adjustment in the terms of an agreement for a loan.
Definition: A loan given for financing purchases of real estate. They usually have specific payment periods and interest rates. A loan to finance the purchase of real estate, usually with specified payment periods and interest rates. A lien on the property is given by the borrower to the lender to receive such loan.
Definition: A banker who originates, sells, and services mortgages for resell.
Definition: Can be an individual or company, which brings together borrowers and lenders for the purpose of loan origination but the individual or company does not originate or service the mortgages. The broker, on behalf of the borrower, might also make negotiations with lenders to find the best financial deals possible.
Definition: The creditor or lender in a mortgage agreement.
Mortgage Insurance (MI)
Definition: Insurance, issued by the FHA or private mortgage insurers, that protects the lender against loss from a mortgagor’s default.
Mortgage Insurance Premium (MIP)
Definition: The amount charged to a government agency or private mortgage insurance company for mortgage insurance.
Mortgage Life and Disability Insurance
Definition: A type of life insurance that borrowers typically purchase to cover debt that has been left over when the borrower passes away or when the borrower becomes disabled enough to where making mortgage payments is difficult.
Definition: The one who borrows in a mortgage agreement.
Definition: Properties or a set of properties that provide separate housing areas for more than one family but only require a single mortgage.