Retail Lender
Definition of "Retail Lender"
A lender who offers mortgage loans directly to the public.
Popular Mortgage Terms
A lender who specializes in lending to sub-prime borrowers. ...
Same as term Lead Generation Site: A mortgage Web site designed to provide leads to lenders. A 'lead' is a packet of information about a consumer in the market for a loan. Lenders pay ...
A lender offering loans on the Internet who provides mortgage shoppers with the information they need to make an informed decision before applying for a mortgage and guarantees them ...
Limit on the size of payment change on an adjustable rate mortgage. ...
One of many interest rate indexes used to determine interest rate adjustments on an adjustable rate mortgage. ...
Adjustable rate mortgages on which the interest rate is mechanically determined based on the value of an interest rate index. Indexed ARMs are distinguished from Discretionary ARMs, in that ...
A lender who offers mortgage loans directly to the public. ...
The maximum allowable increase in the interest rate on an ARM each time the rate is adjusted. It is usually one or two percentage points. ...
A documentation rule where the borrower discloses income and its source but the lender does not verify the amount. ...
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