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When a borrower has difficulty making the scheduled payment. Position of the Lender: A good place to start is by understanding the position of the lender. A game plan for survival ...

Belief that there is a special way to pay down the balance of a home mortgage faster, if you know the secret. ...

Employees of lenders or mortgage brokers who find borrowers, sell and counsel them, and take applications. Loan officers employed by mortgage brokers may also be involved in loan ...

One of many interest rate indexes used to determine interest rate adjustments on an adjustable rate mortgage. ...

The period over which the interest due the lender is calculated. The interest accrual period may or may not correspond to the payment period. On the annual accrual mortgages in the UK, ...

The minimum allowable ratio of down payment to sale price on any loan program. If the minimum is 10%, for example, it means that you must make a down payment of at least $10,000 on a ...

The assumption of a mortgage, with permission of the lender, from a borrower unable to continue making the payments. ...

A rate lock, plus an option to reduce the rate if market interest rates decline during the lock period. ...

A particular computerized system for doing automated underwriting. Mortgage insurers and some large lenders have developed such systems, but the most widely used are Fannie Mae's 'Desktop ...