6 Terms
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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
Net branch
Banking; Mortgage
A facility offered by some lenders to mortgage brokers where de jure the brokers become employees of the lender but de facto they retain their independence as brokers.
Nichification
Banking; Mortgage
Proliferation in the number of loan, borrower and property characteristics used by lenders to set mortgage prices and underwriting requirements.
Payment period
Banking; Mortgage
The period over which the borrower is obliged to make payments. On most mortgages, the payment period is a month, but on some it is biweekly.
Net jumping
Banking; Mortgage
Using a broker's time and expertise to become informed and creditworthy, then jumping to the internet to get the loan.
Mortgage payment
Banking; Mortgage
The monthly payment of interest and principal made by the borrower.
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