Month: October 2019
Mortgage Risk Rating
Mortgage Risk Rating – David Reecher The amount of risk for a mortgagee in granting a mortgage loan. Principle in mortgage risk is that a maximum of 28% of the mortgagor’s salary being dev... Read More
Mortgage REIT
Mortgage REIT – David Reecher Type of real estate investment trust (REIT) that does not own property but gives construction or permanent mortgage loans for major projects.... Read More
Mortgage Pool
Mortgage Pool – David Reecher A collection of loans of similar nature, which are sold as a unit in he secondary, market or used to back a security, which is then sold in the capital markets.... Read More
Mortgage Life Insurance
Mortgage Life Insurance – David Reecher Specific insurance, which will pay off a mortgage if the borrower dies while the debt, is still outstanding.... Read More
Mortgage Interest Deduction
Mortgage Interest Deduction – David Reecher Tax write-off, allowed by the IRS, where owners may deduct annual interest payments made on real estate loans.... Read More
Mortgage Insurance
Mortgage Insurance – David Reecher Insurance on some loans, which protects lenders from possible default by borrower. Conventional loans with down payments of less than 20 per cent of the home v... Read More
Mortgage Instrument
Mortgage Instrument – David Reecher A written mortgage document which states the terms of the mortgage including the interest rate, length of payments, payment dates and remedies the bank is ent... Read More
Mortgage Guaranty Insurance Corporation (MGIC)
Mortgage Guaranty Insurance Corporation (MGIC) – David Reecher Private company established in 1957 in Milwaukee, WI to provide private mortgage insurance (PMI) to mortgage lenders granting mortg... Read More