Mortgage and Real Estate Terms Sorted Alphabetically:
O - obsolescence, off-site improvements, on-site improvements,
ordinary income…more
OBSOLESCENCE - loss of value resulting from outmoded
physical features, technical advances or economic
influences.
OFF-SITE IMPROVEMENTS - improvements outside the
boundaries of a property that enhance its value such
as sidewalks, streets, curbs and gutters.
ON-SITE IMPROVEMENTS - any construction of buildings
or other improvements within the boundaries of a property
that increase its value.
ORDINARY INCOME - income subject to tax at full or
ordinary rates, rather than a capital gains rate.
ORIGINATION - marketing and attracting, then securing
a completed mortgage loan application from a commercial
or residential borrower.
ORIGINATION FEES - the fee charged by a banker/lender
(sometimes called "points") to make the
funds available to you, an off-set of its marketing
and overhead expenses.
Mortgage Glossary - Mortgage and Real Estate Terms Sorted Alphabetically:
Mortgage
Glossary
A
- adjustable rate mortgage, adjustment interval, amortization,
annual percentage rate (APR) - more
B
- balloon mortgage, bankruptcy, basis point, beneficiary
- more
C
- caps, cash flow, cash out (second mortgage), cash
out refinance - more
D
- debt consolidation, debt service, debt reduction
plan, debt-to-income ratio - more
E
- earned and unearned income, earnest money, easement,
economic life - more
F
- Fair Credit Reporting Act, fair market value, Fannie
Mae - more
G
- good faith estimate, grace period, gradual payment
mortgage (GPM), grantee - more
H
- home equity, home improvement loan, Home Mortgage
Disclosure Act (HMDA) - more
I
- index, in file credit report, inflation, initial
interest rate, ingress and egress - more
L
- lender buy-down mortgage, liability insurance, LIBOR,
loan application - more
M
- manufactured home, market value, maximum loan amount,
mechanic's liens - more
N
- negative amortized (Neg/AM), Neg AM Loans, negative
cash flow, net worth - more
O
- obsolescence, off-site improvements, on-site improvements,
ordinary income - more
P
- par, partial payment, partnership, party wall, payment
shock - more
Q
- quality control, quit claim deed, quote - more
R
- rate shopper, real property, real estate loans,
reconciliation - more
S
- sales contract, satisfaction or mortgage, seasoned
mortgage, second mortgage - more
T
- tax lien, tenancy in common, tenant, term, title,
title insurance - more
U
- underwriting, unencumbered property, uniform commercial
code (UCC)ï -more
V
- VA (Department of Veterans Affairs) Mortgage, vacancy
rate, VA funding fee - more
