Choice Refinance Loan Mortgage Loan refinancing a Portfolio Mortgage Loan using streamlined underwriting per Part III, Chapter 18: Choice Refinance…
Synonyms: Choice Refinance Loans
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Glossary > C
Clearing Account Lender account at an Eligible Depository used either for receiving funds for various loans and for the benefit of multiple investors, and from which segregated funds are transferred to specific Custodial Accounts held solely for the…
Synonyms: Clearing Accounts
Synonyms: Clearing Accounts
Glossary > I
Interest Rate Conversion Agreement Document describing the terms and conditions when a Mortgage Loan interest rate may convert from an adjustable rate to a fixed…
Glossary > S
Streamlined Rate Lock Optional process permitting a Rate Lock before completing full Mortgage Loan underwriting, per Part IV, Chapter 3: Streamlined Rate Lock…
Synonyms: SRL
Synonyms: SRL
Glossary > C
Collateral Property, Personal Property, or other property securing a Mortgage Loan.…
Glossary > C
Collateral Agreement Agreement granting a security interest in Mortgage Loan collateral not covered by the Security Instrument.…
Synonyms: Collateral Agreements
Synonyms: Collateral Agreements
Glossary > C
Cooperative Maintenance Fee Accounts Receivable Cooperative Maintenance Fees due the Cooperative Organization that are more than 30 days past…
Glossary > C
Cooperative Market Rental Basis Financial analysis or valuation of a Cooperative Property conducted as if it were operated as a conventional multifamily property subject to applicable rental…
Glossary > U
Underwritten Net Cash Flow Net Cash Flow as adjusted by the Lender per Part II, Chapter 2: Valuation and Income, Section 203: Income Analysis and the applicable products and features in Part…
Synonyms: Underwritten NCF
Synonyms: Underwritten NCF
Glossary > U
Underwritten Net Operating Income Net Operating Income as adjusted by the Lender per Part II, Chapter 2: Valuation and Income, Section 203: Income Analysis and the applicable products and features in Part…
Synonyms: Underwritten NOI
Synonyms: Underwritten NOI