Business and Personal Finance Dictionary

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• LOAN BALANCE - the amount owed, including principal and interest; capped in a reverse mortgage by the v...
  
  
• LOAN BROKER LISTING - A mortgage loan broker's contract with a buyer to obtain a loan.
  
  
• LOAN CLOSING - When all conditions have been met, the escrow officer authorizes the recording of the tr...
  
  
• LOAN COMMITMENT - A formal offer by a lender stating the terms under which it agrees to lend money to a...
  
  
• LOAN CONSOLIDATION - Enables a student borrower to combine various educational loans into one new loan,...
  
  
• LOAN CONSTANT - The annual payment required per dollar of a mortgage loan, including principal and inte...
  
  
• LOAN CONTRACT - The written agreement between a borrower and a lender that identifies the terms of the ...
  
  
• LOAN CORRESPONDENT - A person or entity that acts for a lender in arranging loans or the sale of loans.
  
  
• LOAN COVENANT - a legally enforceable promise or restriction in a mortgage. For example, the borrower m...
  
  
• LOAN CROWD - Historical term. In the 1920's and 1930's, it refers to the group of member firms that len...