Home Loan Owner
Home Loan Owner
Home Loan Owner

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Real Estate Terms of the Day for Home Loan Owner



CERTIFIED CHECK
A check which the bank guarantees to be good, and against which a stop payment is ineffective.

BEQUEST
A gift of personal property by will.

MORTGAGE BANKER
An individual or company that originates and/or services mortgage loans.

HAZARD INSURANCE
Protects the insured against loss due to fire or other natural disaster in exchange for a premium paid to the insurer.

JUNIOR MORTGAGE
A mortgage which is subordinate in right or lien priority to an existing mortgage on the same realty, such as a second mortgage.

PRIVATE MORTGAGE INSURANCE
A special form of insurance designed to permit lenders to increase their loan-to-market-value ratio, often up to 95 percent of the market value of the property.

ORIGINATION FEE
Fee charged by a lender to cover administrative costs of processing a loan.

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