Net Effective Income reveals your income after estimated taxes and helps lenders more accurately assess...
The National Credit Union Administration (NCUA) is a federal agency that insures deposits at credit unions,...
The minimum loan amount is the smallest sum a lender allows you to borrow, set to ensure the loan is...
Manual underwriting criteria refer to the financial and personal factors a human underwriter reviews...
A Loss Sharing Agreement (LSA) is a legal contract where parties agree to divide potential financial...
A Loan Waiver Clause is a contractual term that forgives the outstanding loan balance upon the borrower's...
A loan qualification letter is an initial estimate from a lender about how much you might borrow, based...
A loan processing checklist is the lender's detailed guide to verify your financial information and documents...
A loan origination fee cap limits the upfront fees lenders can charge to originate a mortgage, keeping...
A loan origination channel is the process path a loan follows from lender to borrower. Knowing your options...