Loan Application
A form completed out by a borrower specifying personal and financial data to be considered by the lender in evaluating borrower risk. The information typically includes the following: borrower's name and address, amount and type of loan, description of security, and job and financial history. An application must be completed before a mortgage loan is approved.
Popular Real Estate Terms
When we talk about acceptance in the real estate world, we have to talk about an offer that is accepted. The definition of acceptance implies the existence of an offer that we can accept or ...
The term proxy comes from the power of attorney by which the holder of stockholders in a real estate company transfers voting rights to another stockholder. A proxy fight may arise in which ...
Document describing the benefits and provisions for people or businesses covered by group insurance. Document in life and health insurance issued to a member of a group insurance plan ...
The Multiple Listing Service (MLS) is an exclusive database of properties created by real estate agents and brokers. The idea behind the creation of the Multiple Listing Service (MLS) ...
member of the National Association of Real Estate Brokers, Inc. ...
Also called a will. Describes the disposition of property. ...
In the business world, the definition of override means a salesperson paying a commission to a supervisor or another agent. The meaning of override refers to an arrangement for acquitting ...
Examination of the financial records of a business to uncover errors and other irregularities. Involves looking at source documents to determine the legitimacy of transactions. An ...
One that is legally binding because it is in conformity with legal requirements and conditions. ...
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