|
| | |
Conforming loan
Conforming loan A mortgage loan that meets all Fannie Mae and Freddie Mac underwriting guidelines.
RELATED TERMS--------------------------------------
Mortgage
A legal document pledging property as security for the payment of a loan.
Loan
A sum of borrowed money (principal) that is generally repaid with interest.
Underwriting
The process of analyzing a loan application to determine the amount of risk involved in making the loan.
SIMILAR TERMS--------------------------------------
Confession of judgment clause
Permits judgment to be entered against a debtor without the creditors needing to institute legal proceedings.
Conformity
The appraisal principle that holds that the greater the similarity among properties in an area, the better they will hold their value.
PREVIOUS AND NEXT TERMS--------------------------------------
Condominium conversion
Changing the ownership of an existing building (usually a rental project) to the condominium form of ownership.
Condominium hotel
A condominium project that has rental or registration desks, short-term occupancy, food and telephone services, and daily cleaning services and that is operated as a commercial hotel even though the units are individually owned.
Condominium ownership
An estate in real property consisting of an individual interest in an apartment or commercial unit and an undivided common interest in the common areas in the condo project such as the land, parking areas, elevators, stairways, exterior structure and so on.
Conduit
An alliance between mortgage originators and an unaffiliated organization that acts as a funding source by regularly purchasing loans, usually with a goal of pooling and securitizing them
Confession of judgment clause
Permits judgment to be entered against a debtor without the creditors needing to institute legal proceedings.
Conforming loan
Conformity
The appraisal principle that holds that the greater the similarity among properties in an area, the better they will hold their value.
Consent judgment
A judge's legally binding approval of a written agreement by the parties of a lawsuit.
Conservator
A guardian, protector, preserver or receiver appointed by a court to administer the person and property of another (usually an incapable adult) and to ensure that the property will be properly managed.
Consideration
Anything of value given to induce someone into entering into a contract.
Constitutional law
Law set forth in federal or state constitutions.
This dictionary contains 6433 terms. |
|
|
