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Mortgage pipeline risk |
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Mortgage pipeline riskThe risk associated with taking applications from prospective mortgage borrowers who may opt to decline to accept a quoted mortgage rate within a certain grace period.Mortgage pipeline risk Similar MatchesVariable rate mortgagesVariable rate mortgagesAs you would expect from the name, variable mortgage rates go up and down and generally don't stay at the same level for too long. This is because the interest rate and subsequent level of repayment varies with the lender's interest rate. This is usually derived from Bank of England base rate or some other index. One such index is the banks' base rate - an average of the rates of several leading lenders. Collateralized mortgage obligation (CMO)Collateralized mortgage obligation (CMO)A security backed by a pool of pass-through rates , structured so that there are several classes of bondholders with varying maturities, called tranches. The principal payments from the underlying pool of pass-through securities are used to retire the bonds on a priority basis as specified in the prospectus. Related: mortgage pass-through security. Mortgage confirmationMortgage confirmationWhen you get a written confirmation of your offer, you usually receive two things. Firstly, there will usually be some form of standard covering letter, thanking you for your hugely valued business and welcoming you into a family of customers that have their mortgage lender in common. In addition to the letter, you will receive a written mortgage confirmation. This will normally set out some of your personal details, some facts about the property, your salary details, your solicitors (if you have appointed them by this stage), and will require a signature. One hundred percent mortgageOne hundred percent mortgageA loan for the full cost of the home you are buying if are unable to raise a deposit to buy a property. You may have no existing equity, no savings, be using up all you do have on the other costs of the move, or perhaps be saving what you do have so that you can fix up your new home when you do buy it. Open End MortgageOpen End MortgageA mortgage permitting the mortgagor to borrow additional money under the same mortgage, with certain conditions, usually as to the assets of the mortgage. Further SuggestionsGeneral Mortgage BondMortgage REIT Mortgage types Mortgage Company Mortgage application fee Mortgagee Federal Agricultural Mortgage Corporation (Farmer Mac) Mortgage Broker Cap & collar mortgage Strip mortgage participation certificate (strip PC) Council of Mortgage Lenders Blanket Mortgage graduated payment mortgage mortgage backed security Mortgage arrears Equity linked mortgage Fixed term reverse mortgage Conventional mortgage Blanket mortgage Government insured mortgage Direct Reduction Mortgage Insured Mortgage endowment mortgage remortgage Growing Equity Mortgage (gem) |
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