Mortgage BankerA 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 used its own funds, these funds are generally borrowed and the financing is either short term or, it long term, the mortgages are sold to investors (many times insurance companies) within a short time.
Joint mortgageJoint mortgage
A mortgage shared jointly between two people with the agreement that if one dies, the other automatically inherits their share.
Direct Reduction MortgageDirect Reduction Mortgage
An amortized mortgage. One on which principal and interest payments are paid at the same time (usually monthly) with interest being computed on the remaining balance.
Mortgage arrearsMortgage arrears
The amount of back pay you owe your mortgage lender for failing to meet your mortgage requirements.
Repayment mortgageRepayment mortgage
Each month you will make a repayment to the mortgage lender. Part of this payment will go towards reducing the total amount of capital you owe and part of it will be an interest charge on the remaining balance of the mortgage. Unless interest rates change or your introductory offer period ends, you pay the same amount each month. When one of these things does happen, repayments are altered so that the loan is still repaid at the end of the specified term.
Mortgage BrokerMortgage Broker
One who, for a fee, brings together a borrower and lender, and handles the necessary applications for the borrower to obtain a loan against real property by giving a mortgage or deed of trust as security. Also called a loan broker.
shared appreciation mortgage
variable rate mortgage
Wrap Around Mortgage
Adjustable rate mortgage (ARM)
Self amortizing mortgage
mortgage life insurance
Mortgage interest deduction
senior mortgage bond
Mortgage pipeline risk
Purchase money mortgage
Secondary Mortgage Market
mortgage interest deduction
discounted rate mortgage
Mortgage reference fee
Government National Mortgage Association
Self build mortgage