In real estate finance, a mortgage broker is a person or firm that, for a fee, brings together borrowers and lenders for the purpose of obtaining a loan secured by real property. The broker acts as an intermediary rather than a direct source of funds. A mortgage...

In real estate finance, a mortgage banker is a company that provides mortgage financing using its own funds. Unlike a mortgage broker, which primarily acts as an intermediary between borrowers and lenders, a mortgage banker originates, funds, and often services the...

In real estate finance, a mortgage is the legal instrument by which real property is pledged, or hypothecated, as security for the repayment of a loan. It creates a lien on the property in favor of the lender while allowing the borrower to retain possession and use of...

In real estate, a month-to-month tenancy is a rental arrangement in which the tenant occupies the property without a fixed long term lease and rent is paid on a monthly basis. The tenancy automatically renews each month until terminated by either party in accordance...

In real estate and economics, monetary controls refer to the tools used by the Federal Reserve to regulate the availability and cost of money and credit in the economy. These controls are designed to influence overall economic activity, including borrowing, spending,...

In real estate and building construction, moldings are decorative strips or bands used to add ornamental detail and visual interest to the outlines or contours of interior or exterior features. They are commonly applied at transitions between surfaces to enhance...

In real estate and construction, modular refers to a building system in which dwellings or other improvements are created through the on site assembly of prefabricated component parts, known as modules. These modules are mass produced in a factory setting away from...

In real estate, misrepresentation refers to a false or misleading statement or assertion made in connection with a property or transaction. It may involve incorrect information about a material fact or the omission of information in a way that creates a deceptive...

In real estate finance, M.I.P., or mortgage insurance premium, refers to the cost paid for insurance that protects a mortgage lender against losses resulting from borrower default. This insurance reduces the lender’s risk and makes it possible to approve loans with a...

In real estate and land surveying, metes and bounds is a method of describing land by detailing its boundary lines, terminal points, and angles. This system uses directions and distances, often beginning at a known point of reference, to trace the perimeter of a...