Adjustable Rate Mortgage
First Payment Date
OH Housing Finance
Clear to Close
The word for exchanging goods and services, sometime between countries
Something that a person would like but is not necessary for their survival.
When money or goods are traded or exchanged for other goods or services
When a company focuses on a small range of products in order to more efficient and their business more profitable.
The person selling the goods or providing the service.
When a person keeps their money instead of spending it.
What people must give up in order to get what they want the most
What a person requires to live - food, water, shelter
A decision that must be made, the object or lesser value is given up and exchanged for something of more value.
The person receiving the goods or services.
How efficient a good or service is produced in order to increase profit.
Something that motivates someone to buy an item.
Third Party Origination
United States Department of Agriculture & Rural Development
Federal Housing Administration
Legal agreement where creditor lends money at interest in exchange for taking title of the debtor’s property and is void upon the payment of the debt in full
Consumer Financial Protection Bureau
Payments are amortized over a longer period than the actual term and outstanding balance is due at the end of the term
Home Affordable Refinance Program
Private Mortgage Insurance
Appraisal Management Company
Government Sponsored Enterprises (i.e. Fannie Mae (FNMA) or Freddie Mac (FHLMC))
Department of Housing and Urban Development
Debt to Income Ratio
Loans that are partially funded by mortgage revenue bonds
Process of spreading out a loan into a series of fixed payments over time
Clear to Close
Equal Credit Opportunity Act
When property taxes and homeowner’s insurance is also collected in the monthly payments and the lender disburses the payments to the tax collector or insurance agent on behalf of the borrower
Verification of Employment
Where mortgage bankers, GSEs, and investors buy and sell closed mortgage loans and loan servicing
Loan to Value
Payment, Interest, Taxes, Insurance
Mortgage Back Securities
This is account where funds are held to pay for future property taxes and insurance.
This is the acronym for Fannie Mae.
The purpose of this is to give smaller mortgage companies the same benefits a larger mortgage company has without having to commit themselves.
With this type of loan, the principal and interest portion of the payment remain the same for the entire loan term.
This is the abbreviation for Dovenmuehle Mortgage Inc.
Borrowers with loans serviced by Devon Bank use this term instead of Note.
This type of loan is held by the investor and not sold on the secondary market.
This type of loan is gauranteed or insured by the federal government, or has beensold on the secondary market.
In this mortgage market, borrowers and mortgage orignators meet, negotiate terms, and finalize the mortgage.
This type of insurance protects the property in case it is damaged.
This is a wholly-owned government corporation that garauntees the timely payment of principal and interest on mortgage-backed securities.
This client follows strict Muslim guidelines in rgard to lending, payment, and financial practices
This non-profit organization owned by its members.
This is a feature Dovenmuehle offers so lenders are able to maintain close ties to their customers.
This government agency operates entirely on its own self-generated income.
This is where one of Dovenmuehle's operation centers is located.
With this type of loan, the interest rate varies based on factors that are specified in the mortgage.
This is conventional loan that meets the conditions and terms set by Freddie Mac and Fannie Mae.
When a borrower makes their their September mortgage payment, the interest is actually being paid for this month .
With this type of loan, interest is calculated daily.
good faith estimate
truth and lending
resource _______ maximizes biodiversity
these species do not belong here
mutualism or parasitism
African grassland biome
carbon _______ takes it out of the air
island _____ looks at richness
international protection for endangered species
super critical species
the first species to arrive
VA entitlement doc
Federal default database
Schedule of loan repayment
Analysis of property value
One who applies for/receives a mortgage
Failure to make payments on time
Difference between market value and current indebtedness
Fee charged for borrowing money
A money source for lender
Exceeds FHLMC & FNMA loan limits
Principle, interest, taxes & insurance
A measurement of land
Federal National Mortgage Association
Conventional Mortgage Loan
Fully Amortized Loan
Graduated payment Mortgage
Insured or Guaranteed Loan
Partial Amortized Loan
Primary Mortgage Lender
Private Mortgage Insurance
Secondary Mortgage Market
Servicing the Loan
Straight-line Amortized Loan
What department generates calls to browers that have late payments?
What department works on Chapter 13 Loans?
What department provides workout MODs for borrowers?
What is a Loan that is greater than Approximately 450K UPB called?
The action or process of gradually writing off the initial cost of an asset is?
This type of loan has an interest rate that changes
Property that you own that is considered to have value?
The final transaction between a buyer and seller on a sale of a home?
When the mortgage loan is passed 60 days is considered?
The current market value of your home minus your remaining mortgage loan balance?
U.S. Department of Housing and Urban Development?
A real estate transaction in which the proceeds from the sale are less than the amount needed to pay off the remaining mortgage debt?
A legal document listing the right to ownership and possession of a house?
An estimate of the value of property?
One who applies for and receives a loan in the form of a mortgage?
A mortgage not insured by FHA or guaranteed by VA?
Failure to make the monthly payments on a mortgage?
Money paid to make up the difference between te purchase price and the mortgage amount?
An account held by the lender where borrower pays money for tax and insurance payments?
A repossession of property?
Federal Home Loan Mortgage Corporation?
A regular periodic payment that a borrower agrees to make to a lender?
The fee charged for borrowing money?
A money source for a lender?
The penalty a borrower must pay if passes due date?