Define: assigned loan Definition: An assigned loan is the transfer of ownership from one person to another.
Define: subordination Definition: Subordination is the act of lowering the priority of a mortgage lien.
Define: secondary market Definition: The secondary market is the market in which mortgage loan and mortgage-backed securities are bought and sold.
Define: primary mortgage market Definition: Primary mortgage market is the entities involved in originating a mortgage loan including mortgage brokers and lenders.
Define: net worth Definition: Net worth is assets minus liabilities.
Define: mortgage investors Definition: Mortgage investors are individuals or companies that purchase mortgages after the closing.
Define: leverage Definition: Leverage is the use of borrowed funds to increase yield.
Define: interest Definition: Interest is the fee charged for the use of money.
Define: high interest rates Definition: High interest rates are rates that exceed a specified threshold and require HOEPA disclosures.
Define: eminent domain Definition: An eminent domain is the condemnation of private property for public good.
Define: easement Definition: An easement is a right to the use of/access to land owned by another.
Define: disintermediation Definition: Disintermediation is the withdrawal of funds from savings accounts and into stocks, bonds, and real estate.
Define: delinquent loan Definition: A delinquent loan happens when a mortgage payment in late.
Define: Constructive notice Definition: A constructive notice is a notice which is recorded in public records.
Define: creditor Definition: A creditor is any person or business who arranges for the extension, renewal, or continuation of credit.