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Master servicer
Master servicer An institution that acts on behalf of a trustee for the benefit of security holders in collecting funds from a borrower, advancing funds in the event of delinquencies and, in the event of default, taking a property through foreclosure
RELATED TERMS--------------------------------------
Trustee
A party who is given legal responsibility to hold property in the best interest of or "for the benefit of" another.
Security
The property that will be pledged as collateral for a loan.
Borrower
A person who has been approved to receive a loan and is then obligated to repay it and any additional fees according to the loan terms.
Default
The inability to pay monthly mortgage payments in a timely manner or to otherwise meet the mortgage terms.
Taking
A common synonym for condemnation, or any interference with private property rights, but it is not essential that there be physical seizure or appropriation.
Property
The rights of ownership. The right to use, possess, enjoy, and dispose of a thing in every legal way and to exclude everyone else from interfering with these rights.
Foreclosure
A legal process in which mortgaged property is sold to pay the loan of the defaulting borrower.
SIMILAR TERMS--------------------------------------
Master deed
The principal conveyance document used by the owners of land on which condominiums are located.
Master lease
A primary lease that controls subsequent leases and may cover more property than subsequent leases
Master plan
A comprehensive plan to guide the long-term physical development of a particular area.
Master-planned community
A large development that features neighborhoods, parks and other recreation areas, schools and shopping centers.
PREVIOUS AND NEXT TERMS--------------------------------------
Marketing
The management process through which efforts to conceive, develop and deliver goods and services are integrated to satisfy the needs and wants of selected customers as a means of achieving company objectives.
Masonry
Any construction material involving bricks-blocks and mortar or related materials.
Master deed
The principal conveyance document used by the owners of land on which condominiums are located.
Master lease
A primary lease that controls subsequent leases and may cover more property than subsequent leases
Master plan
A comprehensive plan to guide the long-term physical development of a particular area.
Master servicer
Master-planned community
A large development that features neighborhoods, parks and other recreation areas, schools and shopping centers.
Material fact
Any fact that is relevant to a person making a decision. Agents must also disclose to buyers material facts about the condition of the property.
Maturity
The date on which the principal balance of a loan, bond, or other financial instrument becomes due and payable.
Maturity date
The date when the total principal balance comes due
Maximum financing
A mortgage made on a property in which the lender’s lowest permissible down payment has been made.
This dictionary contains 6433 terms. |
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