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Dictionary Day

Across
to agree to place one's mortgage or other interest in a junior position relative to another
default by a mortgage borrower who has the capacity to make the payments but elects not to because of negative equity
the difference between the value of a home and the balance of outstanding mortgage loans on the home
paying off an old loan while simultaneously taking a new one
net gain to a borrower from a refinance, which some proposed legislation would make the responsibility of lenders
Employment related assets used as a basis for qualifying
a project with features that lenders view as protections against hazards that would threaten the value of a unit
federal law that specifies the information that must be provided to borrowers on different loan types
a conveyance of an interest in property as security for the repayment of money borrowed
resource containing selection of words, giving information about their meaning
legal process by which a lender acquires possession of a property securing a mortgage when the borrower defaults
written estimate of a property's current market value
portion of a monthly payment that is used to reduce the loan balance
Down
Mortgage release, transfers ownership of property to the bank and satisfies the mortgage agreement
quality within a loan that does not meet policy/program requirement
an agreement that money or other objects of value be placed with a third party for safe keeping
a payment made by the borrower over and above the scheduled mortgage payment
Amount of income remaining after all personal debts, including mortgage obligations have been factored in
a mortgage that does not meet the guidelines of government sponsored enterprises (i.e fannie mae and freddie mac)
Markets in which mortgages or mortgage-backed securities are bought and sold
what is the document given to veterans to disclose market value of a home
minimum requirements for creditors to determine borrowers capacity to make good on their repayment of a debt
an entity either set up by the government or by court order that takes control of an organization that is unable to function on its own
a federal consumer protection statute first enacted in 1974 designed to protect home purchasers and owners shopping for settlement services by mandating certain disclosures