Loan to Value Ratio Ratio reflecting the mortgage loan amount to the appraised value or purchase price of a home. The highest price that a buyer is willing to pay and the lowest price that a seller is to accept for real estate. Marketable Title Enables an owner to sell property without objection. It is free of any clouds. Mortgage A guarantee of real estate from a borrower as security for the payment of a loan to a lender.
Mortgage Insurance Insures the lender against non-payment of a government or conventional loan.
The lender for a home loan. Mortgagor The borrower in a home loan. Negative Amortization A loan schedule in which the principal increases due to a payment that does not cover all of the interest. Notice of Default Written notice to a borrower showing default on a mortgage. Origination Fee Lender s fee for processing and underwriting loan documents.