Tag: Mortgages

  • Mortgage

    Mortgage

    Real Estate Mortgage Investment Conduit (REMIC) Definition (in the Accounting Vocabulary) The New York State Society of Certified Public Accountants offers the following definition of Real Estate Mortgage Investment Conduit (REMIC) in a way that is easy for anybody to understand: An entity […]

  • Absolute-bar Rule

    Meaning of Absolute-bar Rule Resources See Also Mortgages Secured Transactions

  • Mortgagor

    One who gives a mortgage as security for a loan.

  • Mortgagor

    One who gives a mortgage as security for a loan.

  • Assumption Clause

    Assumption Clause

    Concept of Assumption Clause in the context of Real Property A short definition of Assumption Clause: The part (clause) of an assumable mortgage making it assumable. See: Assumable mortgage.

  • Assumption Clause

    Assumption Clause

    Concept of Assumption Clause in the context of Real Property A short definition of Assumption Clause: The part (clause) of an assumable mortgage making it assumable. See: Assumable mortgage.

  • Conditional Assignment

    Conditional Assignment

    Meaning of Conditional Assignment Resources See Also Mortgages Secured Transactions

  • Conditional Assignment

    Conditional Assignment

    Meaning of Conditional Assignment Resources See Also Mortgages Secured Transactions

  • After-acquired property clause

    After-acquired property clause

    In many mortgage instruments there is a provision whereby the lien of the mortgage is made to apply not only to property then owned by the mortgagor, but to all, or all of some specified type of, property acquired by the mortgagor after the date of the mortgage. This has the advantage not only […]

  • Mortgagee

    One who takes a mortgage as security for a loan.

  • Mortgage Revenue Bonds

    Concept of Mortgage Revenue Bonds in the context of Real Property A short definition of Mortgage Revenue Bonds: Bonds sold on a state or local level (tax exempt) to finance real estate sales, construction, or refurbishing. Used in many instances to create affordable housing.

  • Mortgage Insurance Premium

    Concept of Mortgage Insurance Premium (mip) in the context of Real Property A short definition of Mortgage Insurance Premium (mip): The amount paid for FHA mortgage insurance. When paid to a private company, it is commonly referred to as Private Mortgage Insurance (PMI).

  • Mortgage Insurance Premium

    Concept of Mortgage Insurance Premium (mip) in the context of Real Property A short definition of Mortgage Insurance Premium (mip): The amount paid for FHA mortgage insurance. When paid to a private company, it is commonly referred to as Private Mortgage Insurance (PMI).

  • Mortgage Broker

    Concept of Mortgage Broker in the context of Real Property A short definition of Mortgage Broker: One who, for a fee, brings together a borrower and lender, and handles the necessary applications for the borrower to obtain a loan against real property by giving a mortgage or deed of trust as […]

  • Mortgage Warehousing

    Concept of Mortgage Warehousing in the context of Real Property A short definition of Mortgage Warehousing: A system whereby a mortgage company will hold loans which would ordinarily be sold, in order to sell later at a lower discount. These mortgages are used as collateral security with a […]