Legal Dictionary

Tag: Mortgages

  • Mortgage Clause

    Mortgage Clause in the context of Real Property See: Loss Payable Clause in this legal Dictionary.

  • First Mortgage

    Concept of First Mortgage in the context of Real Property A short definition of First Mortgage: A mortgage having priority over all other voluntary liens against certain property.

  • Mortgage-backed Certificates

    Mortgage-backed Certificates in the context of Real Property See: Mortgage-backed Securities in this legal Dictionary.

  • Mortgage Bonds

    Obligaciones con garantía hipotecaria…

  • Mortgage Discount

    Mortgage Discount in the context of Real Property See: Discount Points in this legal Dictionary.

  • Mortgage Out

    Concept of Mortgage Out in the context of Real Property A short definition of Mortgage Out: To finance the total cost of a property or project.

  • Mortgage Insurance

    Concept of Mortgage Insurance in the context of Real Property A short definition of Mortgage Insurance: Insurance written by an independent mortgage insurance company (referred to as an +MIC’) protecting the mortgage lender against loss incurred by a mortgage default, thus enabling the […]

  • Mortgage Modification

    Concept of Mortgage Modification in the context of Real Property A short definition of Mortgage Modification: A refinancing plan to help a mortgagor in default. The payment may be reduced if the amount refinanced is lower than the original mortgage amount or the term is extended. A mortgagor […]

  • Assumption Fee

    Assumption Fee

    Concept of Assumption Fee in the context of Real Property A short definition of Assumption Fee: Lender’s charge for paperwork involved in processing records for a new buyer assuming an existing loan.

  • Assumption Fee

    Assumption Fee

    Concept of Assumption Fee in the context of Real Property A short definition of Assumption Fee: Lender’s charge for paperwork involved in processing records for a new buyer assuming an existing loan.

  • Mortgage Corporation

    Concept of Federal Home Loan Mortgage Corporation (the Mortgage Corporation) in the context of Real Property A short definition of Federal Home Loan Mortgage Corporation (the Mortgage Corporation): A semi-governmental purchaser of mortgages in the secondary market. The trading of mortgage […]

  • Mortgage-backed Securities

    Securities backed by a pool of mortgage loans….

  • Mortgage Life Insurance

    Concept of Mortgage Life Insurance in the context of Real Property A short definition of Mortgage Life Insurance: A term life insurance policy for the amount of the declining balance of a loan secured by a mortgage or deed of trust. The beneficiary under the policy is the mortgagee. In the […]

  • Mortgage Banker

    Concept of Mortgage Banker in the context of Real Property A short definition of Mortgage Banker: A company providing mortgage financing with its own funds rather than simply bringing together lender and borrower, as does a mortgage broker. Although the mortgage banker uses its own funds, […]

  • Mortgage Policy

    Mortgage Policy (mortgagee’s Policy) in the context of Real Property See: Loan Policy in this legal Dictionary.