Net Jumping
Definition of "Net Jumping"
Using a brokers time and expertise to become informed and creditworthy, then jumping to the Internet to get the loan.
Popular Mortgage Terms
The option to convert an ARM to an FRM at some point during its life. ...
A mortgage loan transaction in which the lender assumes responsibility for an existing mortgage. A wrap-around can be attractive to home sellers because they may be able to sell their ...
The maximum allowable decrease in the interest rate on an ARM each time rate is adjusted. It is usually one or two percentage points. ...
One of many interest rate indexes used to determine interest rate adjustments on an adjustable rate mortgage. ...
A lender that provides loans through mortgage brokers or correspondents. ...
A lender that holds the loans it originates in its portfolio rather than selling them. ...
The federal law that specifies the information that must be provided to borrowers on different types of loans. Also, the form used to disclose this information. Truth in Lending (TIL) is ...
A term that small lenders sometimes use to distinguish themselves from mortgage brokers. ...
All the combinations of interest rate and points that are offered on a particular loan program. On an ARM, rates and points may also vary with the margin and interest rate maximum. ...
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