MORTGAGE REVENUE BONDS – Bonds sold on a state or local level (tax exempt) to finance real estate sales, construction, or refurbishing. Used in many instances to create affordable housing. MORTGAGE SAVING (OR SAVINGS) CLAUSE – clause in the CC&R’s (covenants, conditions, and restrictions) which states that a violation of the CC&R’s shall not defeat a subsequent mortgage made in good faith and for value.
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Markets in which mortgages or mortgage-backed securities are bought and sold. ‘Whole Loan’ Markets Versus Securities Markets: Secondary mortgage markets are of two general types. ‘Whole loan’ markets involve the sale of mortgages themselves, sometimes on a loan-by-loan basis but more often in blocks.
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We define mortgage, and other industry terms for home buyers. Discover helps you understand common mortgage terms and meanings.. glossary list.. Fees incurred in a real estate or mortgage transaction and paid by borrower and/or seller during a mortgage loan closing. These typically include.
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Real Estate Glossary There is a lot of real estate terminology used during the home buying and selling process and CENTURY 21 is here to help you understand those terms. We have created a glossary of the most commonly used real estate terms and their definitions in order.
Whether you are thinking about buying or selling a home, the Glossary of Real Esate Terms can provide you with an understanding of a number of common words and terms used in a typical real estate transaction. A few notes about the Glossary of Real Estate Terms: Terms are defined as they are commonly used in the mortgage and real estate industry.
Glossary of Mortgage Terms 1003 form commonly used mortgage loan application developed by Fannie Mae. Sometimes called the Uniform Residential Loan Application. Acceptance a verbal or written acceptance of an offer to buy a home, made from the seller to the buyer. Acre a land measurement commonly used in U.S. property negotiations.