Mortgage Company


Definition of "Mortgage Company"

A mortgage lender that sells all the loans it originates in the secondary market.

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Popular Real Estate Terms

Mortgage Bank

Same as term Mortgage Company: A mortgage lender that sells all the loans it originates in the secondary market. ...

Worst-Case Scenario

On an ARM, the assumption that the interest rate rises to the maximum extent permitted by the loan contract. ...

Dual Index Mortgage

A mortgage on which the interest rate is adjustable based on an interest rate index, and the monthly payment adjusts based on a wage and salary index. ...

Lock-Jumper

A borrower, usually refinancing rather than purchasing a home, who allows a lock to expire when interest rates go down in order to lock again at the ...

Interest Rate Decrease Cap

The maximum allowable decrease in the interest rate on an ARM each time rate is adjusted. It is usually one or two percentage points. ...

Secondary Mortgage Markets

Markets in which mortgages or mortgage-backed securities are bought and sold. 'Whole Loan' Markets Versus Securities Markets: Secondary mortgage mar ...

Popular Real Estate FAQ

What Is Escrow?

Escrow is a trust account created by a neutral third party to hold money for the seller or buyer. When you put down a deposit on a house, for example, ...

What Is An Appreciation?

Changes in the market conditions, or improvements to the property that increase the value of the property. ...

What Is A Mortgage Insurance Premium (MIP)?

A mortgage insurance premium is a policy that insures the lender against loss if the homeowner defaults on a mortgage. ...

What Is An Overall Debt Ratio?

An overall debt ratio is the percentage of your overall debt (housing payments plus any other long-term debt) to your monthly gross income. Lenders us ...

What Happens When A Property Starts To Depreciate?

When a property depreciates it declines in the value of the property due to poor location, dilapidation, or other factors. ...

What Is A APR Loan?

This APR Calculator can be used to estimate the Annual Percentage Rate for a loan based on input parameters. There are various ways that companies com ...

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