Subordination Policy | Mortgage Glossary

Definition of "Subordination Policy"

The policy of a second mortgage lender toward allowing a borrower to refinance the first mortgage while leaving the second in place.

man or woman, respectively, who makes a will. ...

Legal abbreviation meaning with husband. ...

A valuation of risk of an individual or organization. ...

Principle of equity in property, casualty, and health insurance. When two or more policies apply to ...

Separate trust established by a charitable entity whose purpose is to receive contributions from num ...

Insured losses that have occurred but have not been reported to a primary insurance company. These t ...

A commitment letter is a formal offer of a loan by a lender. The letter states the terms under which ...

Choosing the auto insurance requires consideration of manyfactors- Take into account everything you ...

An investment property is a property you purchase with the intension of using it as a rental income ...

A lock in guarantees a certain interest rate for a certain period of time. ...

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

A mortgagor is the borrower. ...

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