The LIBOR Replacement Index, mainly SOFR, is the new standard for variable interest rates, replacing...
A Lender Paid Compensation Plan is a mortgage payment structure where the lender pays the loan officer,...
A lender margin adjustment is the fixed percentage added by lenders to a variable index rate to calculate...
An internal audit of a loan file is a thorough review by a financial institution's internal auditors...
An institutional loan review is a thorough evaluation lenders conduct to assess your financial ability...
Income type classification sorts your earnings into categories like earned, passive, and portfolio income,...
A Guaranty of Performance Agreement is a legal commitment by a third party to ensure that a contracted...
A guaranty of payment clause is a contractual promise where a guarantor agrees to pay a debt immediately...
Gross Monthly Income Validation is the process by which lenders, landlords, and other financial entities...
The Government Monitoring Section on the Uniform Residential Loan Application (URLA) collects race, ethnicity,...