Homebuyer Protection Plan

A payment made after the grace period stipulated in the note, usually 10-15 days. ...

The number of days for which any lock or float-down holds. The longer the period, the higher the price to the borrower. ...

Loan applications that are withdrawn by borrowers, because they have found a better deal or for other reasons. ...

A documentation option where the applicant's income is disclosed and verified but not used in qualifying the borrower. The conventional maximum ratios of expense to income are not ...

A Web site of an individual lender offering loans to consumers. Most Internet shoppers want a list of lenders in whom they can have confidence, who will provide them with the information ...

The monthly mortgage payment which, if maintained unchanged through the remaining life of the loan at the then-existing interest rate, will pay off the loan at term. ...

The standards imposed by lenders in determining whether a borrower can be approved for a loan. These standards are more comprehensive than qualification requirements in that they include ...

A documentation rule where the borrower discloses income and its source but the lender does not verify the amount. ...

A variety of unsavory lender practices designed to take advantage of unwary borrowers. Predatory lending covers much the same ground as Mortgage Scams and Tricks/Scams by Loan Providers. ...