The Real Estate
Encyclopedia: K-O

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...

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...

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...

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...

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...