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Underwriting
Underwriting The process of analyzing a loan application to determine the amount of risk involved in making the loan.
RELATED TERMS--------------------------------------
Loan
A sum of borrowed money (principal) that is generally repaid with interest.
Application
The form used to apply for a mortgage loan, containing information about a borrower’s income, savings, assets, debts, and more.
Risk
The probability of getting your money back. High risk means low probability; low risk means high probability.
SIMILAR TERMS--------------------------------------
Under construction
The period of time after construction has started but before the certificate of occupancy has been issued.
Under contract
The period of time after a seller has accepted a buyer's offer to purchase a property and during which the buyer is able to perform its due diligence and finalize financing arrangements.
Underground storage tanks (usts)
USTs are commonly used for storing petroleum products, chemicals or process wastes. Sites which use USTs include airports, gas stations, industrial locations and military bases.
Underlayment
A layer of wood between the subfloor and the floor.
Underwriter
A person who evaluates the risk of default by a mortgage loan applicant, and grants approval or denial of the loan.
PREVIOUS AND NEXT TERMS--------------------------------------
Under construction
The period of time after construction has started but before the certificate of occupancy has been issued.
Under contract
The period of time after a seller has accepted a buyer's offer to purchase a property and during which the buyer is able to perform its due diligence and finalize financing arrangements.
Underground storage tanks (usts)
USTs are commonly used for storing petroleum products, chemicals or process wastes. Sites which use USTs include airports, gas stations, industrial locations and military bases.
Underlayment
A layer of wood between the subfloor and the floor.
Underwriter
A person who evaluates the risk of default by a mortgage loan applicant, and grants approval or denial of the loan.
Underwriting
Undisclosed dual agency
An illegal situation that arises when a real estate broker represents both parties but does not inform one or more of the parties.
Undisclosed heir
A person who claims the right to a piece of property after the death of an owner without a will.
Undisclosed spouse
An unidentified marital partner who can claim the right to a piece of property.
Undue influence
Strong enough persuasion to completely overpower the free will of another and prevent him or her from acting intelligently and voluntarily, as in a case where a broker guilty of blockbusting has induced someone to sell in fear of a change in the racial character of the community.
Unearned income
Income such as interest, dividends, capital gains or rents, as opposed to earned income, such as wages, tips and salaries.
This dictionary contains 6433 terms. |
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