The index that appeared in the print version of this title was intentionally removed from the eBook. Please use the search function on your eReading device for terms of interest. For your reference, the terms that appear in the print index are listed below
AARP website
Ability to Repay (ATR)
abstract of title
acceleration
acceleration clause
acknowledgment and agreement
adjustable rate mortgage (ARM)
basic elements of
payment option
rate cap
recast
setting interest rates for
situations calling for
starting rates on
adjustment cap
adjustment period (ARMs)
age information (on 1003)
agent
for buying or selling, see real estate agents
settlement
alternate credit
alt (alternative) loans
American Association of Retired People
amortization
amount of mortgage
for construction loans
and debt ratios
escrow requirements
amounts owed
annual percentage rate (APR)
appraisable assets
appraisal fee
appraisals
with construction loans
to drop mortgage insurance
following offer
with lease-purchase agreements
with online lenders
in preapproval process
appraiser
appreciation
approval of loans
construction loans
“degree” of
key people in
online
in the past
tracking, via Internet
see also preapproval
assets
appraisable
documenting
financial gifts
intangible
liquidity of
pledged
reserves
on 1003
what lenders look for
assumable mortgage
Automated Underwriting System (AUS)
appraisal waivers with
debt ratio calculation with
and explanation letters
automated valuation model (AVM)
available credit
back end ratio
balloon mortgage
bankers
correspondent
mortgage
BankRate Monitor
bankruptcies
Chapter 13 and Chapter 7
mortgage approvals following
rapid rescore following
basis points
Better Business Bureau website
“bids” on loans
biweekly loan program
bonds
borrower information (on 1003)
bridge loans
builder financing
bundling
business owners, income documentation for
buydown
buying a home
fees for refinances vs.
renting a home vs.
timing for
cash income
cash-out
with home equity line of credit
with refinances
reverse mortgages vs.
with second mortgages
cash reserves
change order
Chapter 7 bankruptcies
Chapter 13 bankruptcies
checking accounts
closer
closing
on FHA loans
incorrect papers with online lending
when refinancing
closing costs
and annual percentage rate
with FHA loans
getting lender to pay
getting seller to pay
gifts for
and Loan Estimate
reasons for
recovery of, when refinancing
with reverse mortgage
saving on
types of
for VA loans
coborrowers
collateral
commissions
Community Reinvestment Act (CRA)
comparable sales
Comparative Market Analysis (CMA)
condos
condotels
conforming loans
construction loans
advantages of
amount of
builder financed
getting approval for
lender approval of builder
lender’s appraisal of plans
one-time close
and reasons for building
on 1003
two-time close
when you own the land
without permanent mortgage
consumer finance agency loans
Consumer Financial Protection Bureau (CFPB)
consumer information websites
contingency offers
contract
land
sales
conventional loans
in 2004
Conventional
credit score for
debt ratios on
Fannie Mae and Freddie Mac
as first option
limits on
Conventional 97 loans
corporations
correspondent bankers
cosigned loans
credit
alternate
in approval process
available
“bad”
and bankruptcies
Chapter 13 and Chapter 7 bankruptcies
cosigned loans
credit bureaus
credit counseling
credit report
and divorce
erasing old credit report
“good”
improving
and loan cosigners
loans for good to great credit
mistakes on credit reports
refinancing with damage to
and spouse’s bad credit
and subprime loans
of unmarried partners
credit balances
credit bureaus
credit cards
credit counselors
credit inquiries
credit mistakes
credit reports
content of
erasing
mistakes on
saving on fee for
seller’s access to
Vantage Score on
credit repositories
and amounts owed
and balance in charging/paying off accounts
components of
and demographic status
establishing
and explanation letters
fixing mistakes with
and increasing available credit
lenders’ choice of
minimum, for mortgage loans
and number of credit inquiries
obtaining
and payment history
of spouse
credit unions
current market value
debt consolidation
debt ratios
and ability to repay
and Automated Underwriting System
calculating
in lending guidelines
and loan-to-value percentage
lowering
and reserves
with subprime loans
tax and insurance payments in
for VA loans
when current property has not sold
debt service
declarations (on 1003)
deed
deed of trust
delinquent
Department of Housing and Urban Development (HUD)
dependents (on 1003)
deposit
depreciation
direct endorsement (DE)
disclosures
discount points (points)
with refinancing
seller-paid
dividends, documenting
divorce, credit and
documentation
in approval process
of assets
falsified
for government-backed loans
of income
for loan processors
people involved with
document stamp (doc stamp)
down payment assistance programs (DPAPs)
down payments
in approval process
assistance with
bridge loans for
for construction loans
Conventional 97 loans
determining amount of
and escrow account
with FHA loans
funding for
gifts for
HomeReady program
ideal amount of
land owned as
and loan amount
and mortgage insurance
from retirement account
and risk elements
seller-assisted
with subprime loans
and zero-money-down loans
earnest money
easement
economic reports
education level (on 1003)
80–10–10 loans
80–15–5 loans
email offers
employment (on 1003)
employment gaps
Energy Efficient Mortgage
entitlements
Equifax
equity
and amount of loan
land owned as
for refinancing
ways to increase
see also cash-out
equity seconds
escrow
escrow accounts
escrow agent
escrow waiver
Experian
explanation letters
Fair and Accurate Credit Transactions Act (FACTA)
Fair Credit Reporting Act (FCRA)
Fair Isaac Corporation
Fannie Mae
Automated Underwriting System of
conforming loan limits
Conventional 97 loans
electronic loan processing standard of
loan limits
minimum credit score for
other loans submitted through
1003
website of
Farmers Home Administration
Fed (Federal Reserve Board)
Federal Funds rate
Federal Home Loan Mortgage Corporation (FHLMC), see also Freddie Mac
Federal Housing Administration (FHA), see also FHA loans
Federal National Mortgage Association (FNMA), see also Fannie Mae
Federal Reserve Board (Fed)
fee income
fees
associates with interest rates
for cash-out
escrow waiver
funding
nonlender
not included in good-faith estimates
origination
with refinancing
saving on
for VA loans
see also closing costs
fee simple
FHA loans
closing costs with
coborrowers with
compared to other loans
cosigners with
DE approval for lenders
down payments with
eligibility for
following bankruptcy
Home Equity Conversion Mortgages
limits on
minimum credit score for
for multifamily units
refinancing, with bad credit
FHA 203(k) loans
FICO, see also credit score
FICO Company (Fair Isaac Corporation)
15-year loans, see term (time span) of loans
final inspection
financed premium
finances
assets
expenses
income documentation
first job, income documentation for
first-time home buyer loans
5/1 hybrid loans
fixed rate mortgages
float
float-down
flood certificate
foreclosure crisis
foreclosures
Form 2106
Form 65, see also 1003 form
For Sale by Owner (FSBO) website
4506-T form
fraud
Freddie Mac
Automated Underwriting System of
conforming loan limits
Form 65
loan limits
minimum credit score for
national mortgage survey on
other loans submitted through
standards issued by
website of
front end ratio
fully indexed rate
funding
funding fee
gift affidavit
gift funds
gifts
Ginnie Mae
good faith estimate
government-backed loans
in 2004
AUS decisions on
credit score for
documentation of
lenders for
government monitoring information
Government National Mortgage Association (GNMA)
hard costs
hard prepayment penalty
hazard insurance
hold-back
Home Affordable Modification Program (HAMP)
Home Affordable Refinance Program (HARP)
Home Equity Conversion Mortgages (HECMs)
home equity line of credit (HELOC)
home improvement loans
Home Mortgage Disclosure Act (HMDA)
homeowners insurance
HomeReady program
hourly wages
Housing and Economic Recovery Act of 2008 (HERA)
housing expense information (on 1003)
housing ratio
HSH Associates
hybrid loans
impound accounts, see also escrow account
income documentation
bonuses
for business owners
for cash income
for commissions
dividends and interest income
with first job
4506-T form
hourly wage calculation
how you are paid
and income tax deductions
most recent pay stubs
overtime pay calculation
on 1003
income tax deductions
income verification
index
inflation
initial cap
inspections
inspector
installment account
insurance
hazard
homeowners
owner’s policy
as part of down payment
title
see also private mortgage insurance (PMI)
insurance payments, in debt ratios
intangible asset
intangible tax
interest
and closing time for FHA loans
on construction loans
paid in arrears
prepaid
interest income
interest-only loan
interest rate reduction loan (IRRL)
interest rates
checking on, without contacting lenders
comparing lenders’ quotes
on construction loans
economic reports impacting
finding online
and investing in bonds
on Loan Estimate
loan officer’s quote of
locking in
newspaper and online reports of
on one-time close loans
par
and points on refinances
predicting
rate caps for ARMs
with refinancing
for rental properties
with reverse mortgage
with seller financing
and selling of loans
setting of
time to get quotes
and treasury bonds
for USDA loans
variation in
Internet
and change in mortgage lending
checking on rates without contacting lenders
consumer information websites on
email offers
finding best mortgage rate on
incorrect closing papers with online lending
interest rate information on
lenders’ “bids” on loans
listings on
loan approvals via
online-only lenders
online vs. in-person applications
tracking approvals
investment homes
jumbo loans
junior lien, see also second mortgage
land contract
land-to-value
leasehold
lease-purchase agreement (rent-to-own)
Lender Overlays
lender policy
lenders
“bids” from
changing, in mid-process
checking reliability of
comparing interest rate quotes from
comparing Loan Estimates from
for construction loans
fees charged by
fees paid by
finding
getting closing costs paid by
getting names of
in helping fix credit mistakes
loans sold by
mortgage brokers
online-only
real estate agent’s mortgage company
types of
used by mortgage brokers
worked with by loan officers
Lending Tree
liabilities
liens
lifetime rate cap
listing agent
loan(s)
construction
cosigners for
purpose of, on 1003
subprime
terms of, on 1003
see also mortgages; specific types of loans
loan applications
official components of
online
online vs. in-person
see also 1003 form
loan conditions
loan disclosures
Loan Estimate
loan fraud
loan officers
changing
charges by
filing complaints about
finding
help in finding right mortgage from
interest rates quoted by
lenders worked with by
and online applications
payment of
questions to ask
requirements for
suggested by real estate agents
and 1003 details of transactions
training for
loan origination systems (LOS)
loan payoff
loan processor
loan-to-value ratio (LTV)
loan underwriter (underwriter), see also underwriting
lock
lock agreement
approval vs.
expiration of
lower interest rates after getting
requesting
London Interbank Offered Rate (LIBOR)
margin
market gain
market value
mobile homes
modifiable mortgage
monthly payment schedules
mortgage-backed securities
mortgage bankers
mortgage brokers
cost of
lenders used by
mortgage bankers vs.
mortgage companies’ use of
payment to
mortgagee
Mortgage Guaranty Insurance Corporation (MGIC)
Mortgage Industry Standards and Maintenance Organization (MISMO) standard
mortgage insurance (MI), see also private mortgage insurance (PMI)
mortgage market
mortgage rates, see interest rates
mortgages (mortgage loans)
assumable
balloon
bridge
conventional
Conventional
cosigned
fixed rate
for good to great credit
minimum credit scores for
modifiable
NINA
nonconforming
reverse
sale of
second
stated
subprime
terminology used with
types of, see also specific types
what to look for in
wraparound
zero-money-down
see also specific types of loans
mortgagor
Multiple Listing Service (MLS)
National Association of Home Builders
National Association of Realtors
National Mortgage Licensing System and Registry (NMLS)
negative amortization
negative amortization loans
net branches
NINA (No Income, No Asset) mortgage
no documentation loans
no-fee loan
nonconforming loans
nonwarrantable condos
note
note modification
offers
contingency
process following
one-time close loan
online applications, see also Internet
online-only lenders
origination fee
overtime pay
owner’s policy
partnerships
payment history
on credit report
and credit score
following bankruptcy
payment option ARM
payment schedules
payment shock
pay stubs
permanent buydown
piggyback
PITI (principal, interest, taxes, and insurance)
pledged assets
points, see discount points
portfolio loan
preapproval
with AUS
benefits of
loan conditions in
process for
verification process for
predatory loan
prepaid interest
prepayment
prepayment penalties
prequalification
principal
private mortgage insurance (PMI)
and APR
borrowing funds for
cost of policies
in debt ratio
eliminating
with FHA loans
as income tax deduction
piggyback mortgages vs.
with reverse mortgages
for USDA loans
property information (on 1003)
property types
and kinds of loans
kinds of problems with
pull-through rate
purpose of loan (on 1003)
Qualified Mortgage (QM)
quit claim
rapid rescore
rate-and-term refinance
rate caps
rate quotes
real estate account
real estate agents
and credit information
finding
listing
loan officer referrals from
need for
Real Estate Settlement Procedures Act of 1986 (RESPA)
Realtor
Reasonable and Tangible Net Benefit (RTNB)
recast
recission
recission period
Redfin
refinances
alternatives to
with both first and second mortgages
cash-out
closing costs for
closings with
and credit damage
fees for buying a home vs.
fees with
HELOCs vs.
Home Affordable Refinance Program
interest rate reduction loans
and interest rates
loan payoff with
paying extra each month vs.
points with
rate-and-term
reasons for
recission period with
and recovery of closing costs
reducing interest rate and loan term with
and renovation loans
on 1003
with VA eligibility
reissue
renovation loan
rental properties
renting a home
advantages of
before buying
buying a home vs.
on lease-purchase agreement
rent survey
rent-to-own, see lease-purchase agreement
reserves
in automatic underwriting
cash
and debt ratios
on 1003
Residential Mortgage Credit Report (RMCR)
retail banks
retirement accounts
reverse mortgages
amounts received from
cash-out refinances vs.
closing costs with
and current mortgage
qualifying for
web site explaining
revolving account
risk elements, see also individual elements, e.g.: credit
sale of loans
sales contracts
savings accounts
searching for a house
secondary market
second homes
second mortgages
for cash-out
to cover part of down payment
home improvement loans
refinancing with
seller financing for
Secure and Fair Enforcement for Mortgage Licensing Act (SAFE)
seller
seller-assisted down payment
seller-assisted DPAP
seller financing
settlement agent
settlement statement
soft costs
soft prepayment penalty
sole proprietors
special commitments
spouse’s credit
stated loans
subprime loans
survey
tax, intangible
tax benefits
for business owners
of home ownership
income tax deductions
tax payments
temporary buydowns
1003 form
incorrect information on
lenders’ processing of
lying about identity on
and online applications
sections of
term (time span) of loans
choice in
and debt ratio
with refinancing
terms of loan
30-year loans, see term (time span) of loans
3/1 hybrid loans
TILA-RESPA Integrated Disclosure (TRID)
time-shares
title
fee simple
leasehold
reviewing chain of
on 1003
title exam/title search
title insurance
title ownership
title report
following offer
names on
in preapproval process
reissue of
total debt ratio
total loan-to-value (TLTV)
transaction management systems (TMS)
TransUnion
Treasury bonds
Trulia
Truth in Lending laws
two-time close loan
underwriter, see loan underwriter
underwriting
and available credit
for FHA loans
payment shock in
process following offer
see also Automated Underwriting System (AUS)
unmarried partners, loans to
USDA mortgage program
vacation homes
VA loans
DE approval for lenders
eligibility for
entitlements
home improvement funds with
and income documentation
and minimum credit score
refinancing, with bad credit
and state programs
streamline finance with
website for
as zero-money-down
value of home
VA No-No
Vantage Score
verification of application
verification of deposit (VOD)
verification process, in AUS
warrantable condos
W-2 forms
willingness to pay
wraparound mortgage
yield spread premium (YSP)
zero-money-down loans
Zillow