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0-9 | MORTGAGE LOAN TERMS
MORTGAGE LOAN COLLECTION
U
- Underwriter
- Individual employed by a mortgage company that critiques a submitted mortgage loan application for risks and qualifications of the applicant to determine a loan program that they can qualify for.
RELATED MORTGAGE TERMS: Uniform Residential Loan Application (1003)
- Underwriting
- Evaluation of a mortgage loan application to qualify and find a loan program for an applicant. This task is usually accomplished by either an underwriter employed by a mortgage bank or lender, or a by mortgage broker who works independently.
RELATED MORTGAGE TERMS: Underwriter|Uniform Residental Loan Application (1003)
- Underwriting Requirements
- Mortgage bank or lender requirements for a mortgage loan applicant to qualify for a specific loan program.
RELATED MORTGAGE TERMS: Underwriting
MORTGAGE LOAN EXAMPLES: Underwriting Requirements
- Uniform Residental Loan Application (1003)
- Official mortgage loan application that is standarized by Fannie Mae and distributed directly to mortgage brokers, mortgage banks, and mortgage lenders so they can obtain the correct amount of information to qualify a borrower and find an appropiate loan program that suits their needs.
MORTGAGE LOAN EXAMPLES: Mortgage Loan Application (1003)
- Uninsured Reverse Mortgage
- Reverse mortgage loan program that requires repayment in full at a specified date.
RELATED MORTGAGE TERMS: Reverse Mortgage
- Usury
- Interest that is illegaly overcharged to the borrower of a mortgage loan.
MORTGAGE LOAN EXAMPLES: Usury
MORTGAGE LOAN COLLECTION
MORTGAGE LOAN TERMS | 0-9
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MORTGAGE LOAN GLOSSARY
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MORTGAGE LOAN COLLECTION
