Mortgage underwriting — is the process a lender uses to determine if the risk (especially the risk that the borrower will default[1] ) of offering a mortgage loan to a particular borrower is acceptable. Most of the risks and terms that underwriters consider fall under… … Wikipedia
underwater — 1. adjective a) beneath the surface of the water, or of or pertaining to the region beneath the water surface Weve been underwater on our mortgage ever since the housing crash. b) beneath the water line of a vessel … Wiktionary
Subprime mortgage crisis — Part of a series on: Late 2000s financial crisis Major dimensions … Wikipedia
United States — a republic in the N Western Hemisphere comprising 48 conterminous states, the District of Columbia, and Alaska in North America, and Hawaii in the N Pacific. 267,954,767; conterminous United States, 3,022,387 sq. mi. (7,827,982 sq. km); with… … Universalium
Debt service coverage ratio — The debt service coverage ratio (DSCR), also known as debt coverage ratio, is the ratio of cash available for debt servicing to interest, principal and lease payments. It is a popular benchmark used in the measurement of an entity s (person or… … Wikipedia
Negative amortization — In finance, negative amortization, also known as NegAm, deferred interest or graduated payment mortgage, occurs whenever the loan payment for any period is less than the interest charged over that period so that the outstanding balance of the… … Wikipedia
Home Affordable Modification Program — The Home Affordable Modification Program, also known as HAMP, is a federal program of the United States, set up to help eligible home owners with loan modifications on their home mortgage debt. It is being set up in the context of the ongoing… … Wikipedia
Community Reinvestment Act — The Community Reinvestment Act (CRA, Pub.L. 95 128, title VIII of the Housing and Community Development Act of 1977, 91 Stat. 1147, 12 U.S.C. § 2901 et seq.) is a United States federal law designed to encourage commercial… … Wikipedia
Real estate bubble — This article is about the general phenomenon of housing bubbles. For housing bubbles in various countries, see below. A real estate bubble or property bubble (or housing bubble for residential markets) is a type of economic bubble that occurs… … Wikipedia
Dates of 2007 — ▪ 2008 January Ladies and gentlemen: on this day, at this hour, it is still within our power to shape the outcome of this battle. Let us find our resolve, and turn events toward victory. U.S. Pres. George W. Bush, asking for support for his… … Universalium