Glossary

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M

 

Mortgage
A loan to finance the purchase of real estate, usually with specified payment periods and interest rates. The borrower (mortgagor) gives the lender (mortgagee) a lien on the property as collateral for the loan.

Mortgage Banker
A banker who originates, sells, and services mortgages in the secondary mortgage market.

 

Mortgage Brokers
An individual or company which brings borrowers and lenders together for the purpose of loan origination, but which does not originate or service the mortgages. The broker might also negotiate with the lender to try and find the best possible financing deal possible for the borrower.

 

Mortgage Alliance
Mortgage Alliance offers low cost mortgage financing and experienced loan advisors to help purchase or refinance homes.

Mortgage Bankers
A company, individual or institution that originates, sells and services mortgage loans.

 

Mortgage Banking
The packaging of mortgage loans for sale to investors.

Mortgage Brokers
An individual or company which brings borrowers and lenders together for the purpose of loan origination, but which does not originate or service the mortgages. The broker might also negotiate with the lender to try and find the best possible financing deal possible for the borrower.

 

Mortgage Companies
A mortgage company that originates loans, then places those loans with a variety of other lending institutions with whom they usually have pre-established relationships.

 

Mortgage Loans
A loan to finance the purchase of real estate, usually with specified payment periods and interest rates. The borrower (mortgagor) gives the lender (mortgagee) a lien on the property as collateral for the loan. The mortgagor's lien on the property expires when the mortgage is paid off in full.

 

Mortgage Payment Calculators
Calculates how much your mortgage payment will be every month, also calculates % rate.

 

Mortgage Rates
The interest rate on a mortgage loan.

Mortgage Refinancing
An extension and/or increase in amount of existing debt.

 

Mortgaging Company
Company who borrows money to purchase a piece of real property. By granting the lender an interest in the property, which allows it to lend the funds with an accurate assessment of risk, the mortgagor provides the lender with a guarantee for the full repayment of the loan. Also known as a "chargor".