Mortgage

Mortgage

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

Industry: Banking; Real estate

Add a new term

Contributors in Mortgage

Become a Contributors

Mortgage

manufactured housing

Banking; Mortgage

A house built entirely in a factory, transported to a site and installed there.

A particular combination of loan, borrower and property characteristics that lenders use in setting prices and underwriting requirements. These characteristics are believed to affect the default risk ...

maturity

Banking; Mortgage

The termination or due date by which a loan’s final payment must be paid in full.

maximum loan amount

Banking; Mortgage

The largest loan size permitted on a particular loan program.

monthly debt service

Banking; Mortgage

Monthly payments required on credit cards, installment loans, home equity loans, and other debts but not including payments on the loan applied for.

mortgage broker

Banking; Mortgage

An independent contractor who offers the loan products of multiple lenders, termed wholesalers. A mortgage broker counsels on the loans available from different wholesalers, takes the application, ...