Tag: Loans

Concept of Loan Servicing in the context of Real Property A short definition of Loan Servicing: The bookkeeping and collection of a loan. It may be done by the lender or by another for the lender.

Concept of Loan Package in the context of Real Property A short definition of Loan Package: The file of all items necessary for the lender to decide to give or not give a loan. These items would include the information on the prospective borrower (loan application, credit report, financial […]

Concept of Loan Package in the context of Real Property A short definition of Loan Package: The file of all items necessary for the lender to decide to give or not give a loan. These items would include the information on the prospective borrower (loan application, credit report, financial […]

Concept of Loan Application in the context of Real Property A short definition of Loan Application: The form on which the borrower supplies the lender’s required information to determine if the applicant is qualified to receive a loan. It normally identifies the property involved and […]

Loan Commitment in the context of Real Property See: Commitment (2) in this legal Dictionary.

Concept of Loan to Value Ratio in the context of Real Property A short definition of Loan to Value Ratio: The ratio, expressed as a percentage, of the amount of a loan to the value or selling price of real property. Usually, the higher the percentage, the greater the interest charged. Maximum […]

Concept of Loan Policy in the context of Real Property A short definition of Loan Policy: A title insurance policy insuring a mortgagee, or beneficiary under a deed of trust, against loss caused by invalid title in the borrower, or loss of priority of the mortgage or deed of trust.

Concept of Loan Policy in the context of Real Property A short definition of Loan Policy: A title insurance policy insuring a mortgagee, or beneficiary under a deed of trust, against loss caused by invalid title in the borrower, or loss of priority of the mortgage or deed of trust.

Concept of Loan Constant in the context of Real Property A short definition of Loan Constant: The yearly percentage of interest which remains the same over the life of an amortized loan, based on the monthly payment in relation to the principal originally loaned. For example: A $1000 loan at […]

Concept of Loan Origination Fee in the context of Real Property A short definition of Loan Origination Fee: A one time set up fee charged by the lender.