Tag: borrower
Hard Money
What is 'Hard Money' Hard money consists of funding by a government or organization that is repetitive, rather than a one-time grant....
Yield Maintenance
Yield Maintenance in Commercial Real Estate Loans
Yield Maintenance refers to the penalties you pay if you pay off your loan early. The penalty is...
Impaired Credit
What is 'Impaired Credit' A deterioration in the creditworthiness of an individual or entity. This is usually reflected through a lower credit...
Yield Spread Premium
What is yield spread premium
Yield spread premium is the difference between the interest rate a borrower pays on a loan and the interest rate...
Impound
What is 'Impound' An account maintained by mortgage companies to collect amounts such as hazard insurance, property taxes, private mortgage insurance and...
Negative Interest Rate Policy
A negative interest rate policy (NIRP) is a monetary policy that is used by central banks to keep negative rates in the country. The...
Mandatory Mortgage Lock
Home Ownership by Country Mandatory Mortgage Lock What is 'Mandatory Mortgage Lock' The sale of a mortgage in the secondary mortgage market...
Mortgage Loan
DefinitionA mortgage loan, or simply mortgage, is used either by purchasers of real property to raise funds to buy real estate, or alternatively by...
Ability To Repay
What is 'Ability To Repay' An individual's financial capacity to make good on a debt. Specifically, the phrase "ability to repay" was...
Reverse Mortgage
DefinitionA reverse mortgage is a type of home loan for older homeowners that requires no monthly mortgage payments. Borrowers are still responsible for property...