chicago real estate glossary
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Criteria used to determine eligibility for a loan.
Calculations that are used in determining the loan amount that a borrower qualifies for, typically a comparison of the borrower's total monthly income to monthly debt payments and other recurring monthly obligations.
A system of safeguards to ensure that loans are originated, underwritten and serviced according to the lender's standards and, if applicable, the standards of the investor, governmental agency, or mortgage insurer.
Prepared by and used with the permission of the FTC.