The glossary covers commercial real estate terms and financial market terms, as well as terms specific to the. Allows the trustee to call all loans in a group into default when any single loan is in default.. Master Limited Partnership – MLP.
The Glossary of Real Estate Industry Terms is a publication of the National Association of Hispanic Real Estate Professionals. In a recent NAHREP survey, top producing latino agents and loan officers indicated that 40 percent of their transactions make use of Spanish at some point in the transaction and as much as 25 percent of all transactions utilize Spanish exclusively as the means of communication.
A mortgage covering at least two pieces of real estate as security for the same mortgage. This provides greater security for the Lender. It may be possible to get a "partial" release so the Borrower can sell one of the properties provided a suitable principal reduction is made.
Glossary of Mortgage Terms 1003 form commonly used mortgage loan application developed by Fannie Mae. Sometimes called the Uniform Residential loan application. acceptance a verbal or written acceptance of an offer to buy a home, made from the seller to the buyer. Acre a land measurement commonly used in U.S. property negotiations.
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It consists of an 80% – 30 year first lien at market rates, a 10% – 15 year second.. In real estate, there are assignments of mortgages, contracts, agreements of sale,. favor of a person on the basis of the group or class to which the person belongs;. MASTER PLAN – A comprehensive plan to guide the long-term physical.
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The CoStar Five Star Building Rating System is the industry’s first nationally consistent building quality rating system that can be applied across all commercial real estate property types and.
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The Real Estate Industry has its own unique language and, without some knowledge of this language, you may find yourself a bit confused if you become involved in a real estate transaction. With this in mind, the experts at Our Title Companies have compiled the following glossary of terms commonly used in the real estate industry.