liar’s loan n.— «You rarely hear anything about individual borrowers who tell little white lies, the ones who obtain so-called “liar loans,” but they’re just as prevalent, if not more so. A young New Jersey couple, “the...
liar’s loan n.— «Over half of subprime mortgages are stated-income loans, loans which the industry often refers to as “liars loans.” The question is, who’s lying? According to a survey of over 2,000 mortgage brokers, 43% of...
blagging n.— «The Anderson’s were able to obtain sensitive information through a process known as “blagging.” This is when bogus phone calls are made to organisations such as banks and utilities to obtain information such as...
sweeper n.— «Offset home mortgage loans were unveiled to the home owner in 1998, and have gained a great deal of respect from home owners since that time. Offset mortgage loans help to pay off a mortgage early by using what is known as a...
mortgage mom n.— «This year could mark the emergence of what might be called mortgage moms—voters whose sense of well-being is freighted with anxiety about their families’ financial squeeze. Democrats are betting that this factor is...
white-label adj.— «Its Intermortgage division has already begun acting as a subcontractor for a handful of other firms and more contracts are expected. As a “white-label” mortgage processor, Intermortgage will enable its...