The Real Estate
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N.A.R. (National Association of REALTORS®)
In real estate, N.A.R. refers to the National Association of REALTORS®, a professional trade organization representing real estate practitioners in the United States. The association is composed of members who use the title REALTOR®, which denotes adherence to...
Multiple Listing
In real estate brokerage, a multiple listing is a property listing, typically an exclusive right to sell agreement, that is submitted to all members of a real estate association or multiple listing service. This arrangement allows each participating broker or...
Multifamily
In real estate, a multifamily dwelling is a residential building designed to house more than one family or household. Each unit within the building typically provides separate living facilities, including sleeping, cooking, and bathroom areas. Multifamily dwellings...
Mortgagor
In real estate finance, a mortgagor is the party that borrows money and grants a mortgage on real property as security for the loan. The mortgagor pledges the property to the lender while retaining possession and use of it. The mortgagor is obligated to repay the loan...
Mortgagee
In real estate finance, a mortgagee is the party that lends money to a borrower and receives the mortgage as security for the loan. The mortgagee holds a lien against the real property to secure repayment of the debt. The mortgagee is typically a bank, financial...
Mortgage Servicing
In real estate finance, mortgage servicing refers to the management and administration of a mortgage loan after it has been originated. It involves carrying out the ongoing duties of the mortgagee to ensure the loan remains in compliance with its terms. Mortgage...
Mortgage Loan Disclosure Statement
In real estate finance, a mortgage loan disclosure statement is a document provided to a prospective borrower that outlines the material terms and costs of a proposed mortgage loan. The statement is prepared on a form approved by the Real Estate Commission and is...
Mortgage Life Insurance
In real estate finance, mortgage life insurance is a form of term life insurance written in an amount equal to the declining balance of a loan secured by a mortgage or deed of trust. As the loan balance is reduced over time, the amount of insurance coverage decreases...
Mortgage Insurance
In real estate finance, mortgage insurance is coverage designed to protect a mortgage lender against losses resulting from borrower default. By reducing the lender’s risk, mortgage insurance allows lenders to approve loans with a higher loan to value ratio than would...
Mortgage Broker
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...