Tag: lender
Foreclosure
DefinitionForeclosure is a legal process in which a lender attempts to recover the balance of a loan from a borrower who has stopped making...
Warehouse Lending
What is 'Warehouse Lending'
Warehouse lending is a line of credit given to a loan originator to pay for a mortgage the borrower used to...
Qualifying Ratios
What is 'Qualifying Ratios' A set of ratios that are used by lenders to approve borrowers for a mortgage. The borrower's front-end...
Waiver Of Inventory Clause
Waiver Of Inventory Clause What is 'Waiver Of Inventory Clause ' A clause in an insurance policy that says that the...
Take-Out Commitment
What is 'Take-Out Commitment' A specific type of mortgage purchase agreement. Under a take-out commitment, a long-term investor agrees to buy a...
Take-Out Lender
What is 'Take-Out Lender' A type of financial institution that provides a long-term mortgage on property. This mortgage will replace interim financing,...
Take-Out Loan
What is a 'Take-Out Loan' A type of long-term financing (usually) on a piece of real property. Long-term take-out loans replace interim...
Dealer Bank
What is 'Dealer Bank' A commercial bank authorized to buy and sell government debt securities including federal and municipal bonds. This debt...
Unsecured Loan
DefinitionIn finance, unsecured debt refers to any type of debt or general obligation that is not protected by a guarantor, or collateralized by a...
Joint And Several Liability
DefinitionWhere two or more persons are liable in respect of the same liability, in most common law legal systems they may either be... Joint...