Business / Construction / Mortgage Loan: A contract in which the borrower's property is pledged as collateral. It is repaid in installments. The mortgagor (buyer) promises to repay principal and interest, keep the home insured, pay all taxes and keep the property in good condition.
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Loan Verb Synonyms: advance, allowance, credit, accommodation
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Business / Real Estate / Mobile-Home Loan: A mortgage loan on a large mobile-home, usually drawn for a shorter term than conventional mortgages. MORE
Business / Real Estate / Loan-To-Value Ratio: The relationship between the amount of the mortgage loan and the value of the real estate being pledged as collateral. MORE
Business / Finance / Mortgage Banker: A company or individual that originates mortgage loans and sells them to investors, while taking care of borrowers' loan payments, records, taxes, and insurance. MORE
Business / Finance / Mortgage Servicing: The collection of monthly payments and penalties, record keeping, payment of insurance and taxes, and possible settlement of default, involved with a mortgage loan. MORE
Business / Real Estate / Loan Origination Fee: The processing of a mortgage application is known as loan origination. When a mortgage loan is originated, a loan origination fee, or transfer fee, is charged by most lenders to cover the expenses inv MORE