Mortgage Originator

A mortgage originator is the person or firm that helps a borrower create a mortgage loan and delivers the funds at closing. Originators include…

Mortgage Forbearance Agreement

A mortgage forbearance agreement is a temporary arrangement between a mortgage servicer and a borrower who is behind on—or expects to be unable to…

Mortgage Bond

A mortgage bond is a debt instrument secured by real estate. If the borrower (the mortgage payer or the issuer) defaults, the collateral—usually one…

Mortgage Recast

A mortgage recast (or loan recast) is a one-time re-amortization of an existing mortgage after you make a large principal payment. The servicer applies…

Mortgagee

A mortgagee is the party that lends money to a borrower (the mortgagor) to finance real estate. In everyday usage the mortgagee is the…

Mortgage Broker

A mortgage broker is a licensed intermediary who helps borrowers find, apply for, and close home loans by shopping the borrower’s application to multiple…

Mortgage Banker

• A mortgage banker is an individual or company that originates and funds mortgage loans using its own funds or borrowed warehouse lines. (Investopedia)…

Mortgage Rate

Key takeaways – A mortgage rate is the annual interest charged on a home loan; it determines how much you pay in interest each…

Mortgage Insurance

Mortgage insurance is a policy that protects a lender or titleholder (not the borrower) if the borrower defaults, dies, or otherwise cannot meet the…

Mortality Table

Key takeaways – A mortality table (life table or actuarial table) gives the probability that members of a defined population will die during a…