Mortgage

Mortgage

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

Contributors in Mortgage

Mortgage

An agreement by a commercial bank or other financial institution to extend credit up to a certain amount for a certain length of time, based upon the loan’s purpose, the borrower’s ability to repay, ...

liquidity

Banking; Mortgage

The ability to readily convert assets or investments to cash.

loan purpose

Banking; Mortgage

Indicates whether the loan is intended for purchasing or refinancing real estate.

lock expiration date

Banking; Mortgage

The interest rate range can only be locked for a set number of days. The rate lock option will expire after the lock expiration date.

posted prices

Banking; Mortgage

The mortgage prices delivered by lenders to loan officers and mortgage brokers, as opposed to the final prices paid by borrowers.

processing

Banking; Mortgage

Compiling and maintaining the file of information about a mortgage transaction, including the credit report, appraisal, verification of employment and assets, and so on.