Mortgage

Mortgage

The business of lending money for the purchase of real property which is repayed in security interest.

Industry: Banking; Real estate

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Mortgage

co-borrowers

Banking; Mortgage

One or more persons who have signed the note, and are equally responsible for repaying the loan. Unmarried co-borrowers who live together are advised to agree beforehand on what happens if they ...

conservatorship

Banking; Mortgage

A legal status where a conservator is appointed to oversee a firm in trouble in order to protect and conserve the firm's assets.

Positive contagion is the tendency during a bubble period for new players to be attracted by the profits being earned by existing players. Negative contagion is the tendency during a financial crisis ...

contract knavery

Banking; Mortgage

Inserting provisions into a loan contract that severely disadvantage the borrower, without the borrower’s knowledge, and sometimes despite oral assurances to the contrary.

credit score

Banking; Mortgage

A single numerical score, based on an individual's credit history, that measures that individual's credit worthiness. Credit scores are as good as the algorithm used to derive them.

cumulative interest

Banking; Mortgage

The sum of all interest payments to date or over the life of the loan. This is an incomplete measure of the cost of credit to the borrower because it does not include up-front cash payments, and it ...