The Real Estate
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Combined Loan-to-Value Ratio (CLTV)
Combined Loan-to-Value (“CLTV”) is a mortgage lending ratio used to measure the total amount of debt secured by a property compared to the property’s appraised value or purchase price, whichever is lower. Unlike the standard Loan-to-Value (“LTV”) ratio, which...
Equal Credit Opportunity Act (ECOA)
The Equal Credit Opportunity Act (“ECOA”) is a federal civil rights law enacted in 1974 that prohibits discrimination in any aspect of a credit transaction. Implemented through Regulation B, ECOA applies to creditors involved in consumer and commercial lending,...
CHARM Booklet
The Consumer Handbook on Adjustable-Rate Mortgages (“CHARM Booklet”) is a consumer disclosure document developed by federal regulatory agencies to help borrowers understand adjustable-rate mortgage (“ARM”) loans and the risks associated with them. Mortgage lenders are...
Blended Interest Rate
A blended interest rate is the weighted average rate applied when a borrower has multiple loans or financing components secured by the same property. It reflects the combined cost of borrowing across different interest rates, loan balances, and terms. The calculation...
ARV (After-Repair Value)
After-repair value (ARV) is a real estate valuation concept used to estimate the market value of a property after planned renovations, repairs, or improvements have been completed. It is commonly applied in investment contexts, particularly with properties that are...
Cross-Collateral Loan
Cross-collateral loans are primarily used in commercial real estate, but are growing in popularity in residential real estate. Cross-collateral loans in residential real estate are a financing strategy that allows a homeowner to use more than one property as security...
Conveyancing
Conveyancing is the legal and administrative process of transferring ownership of real property from one party to another. It begins once a purchase agreement is signed and continues through to the final closing, involving tasks such as verifying the property’s title,...
Executory Contract
In real estate, an Executory Contract is an agreement in which one or both parties still have obligations to perform. Although the contract has been formed and is legally binding, it has not yet been fully completed. Purchase agreements, leases prior to possession,...
Executor
In real estate and estate law, an Executor is a person named in a will to carry out the instructions of the deceased regarding the management and distribution of their estate. This includes handling real property, paying debts and taxes, and transferring title to...
Execute
In real estate and legal contexts, Execute means to complete or carry out an act or obligation. When referring to documents, to execute a deed or contract means to properly sign and complete it, and in the case of a deed, this also includes delivery so that it becomes...