Glossary

The date that the proceeds of a loan are disbursed. See also closing.
The date on which a loan was funded or disbursed.
A fee imposed by a lender to cover certain processing expenses in connection with making a mortgage loan. Usually a percentage of the amount loaned.
The balance owed on a debt on a given day.
A property purchase transaction in which the property seller provides all or part of the financing and takes back a security instrument.
May refer to a property that the owner occupies either as a principal residence. However, for underwriting purposes, only the ownerâ??s primary residence is considered â??owner-occupied.â??
Back to Top


Back to Top