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Choose a Letter to view the terms starting with that letter.
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
Sales Comparison Approach
The construction and locations of homes comparable to the subject home are used to form an appraisal.
Satisfaction
Paying and being released from an obligation in its’ entirety before the end of the term.
Second Mortgage
Mortgage that has a lien position second to a first mortgage.
Secondary Mortgage Market
Market in which investors buy and sell existing mortgages.
Security Instrument
The deed of trust or mortgage verifying the pledge of real property as security for the repayment of the debt.
Servicing
The operational procedures related to the collection of home loan payments and other payments related to mortgage loans.
Shared Appreciation Mortgage (SAM)
Loan in which the lender participates in any profits when the property is sold.
Simple Interest
Interest payable on the principal amount of the loan only.
Subrogation
Substituting the legal rights and claims from one creditor to another.
Suspended
A loan can neither be approved nor denied. More information is needed.
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