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Offender refers to the state of arrears. Delinquency occurs as soon as a borrower misses a payment on a loan, which can affect their credit score. NPL ratios are used to show how many accounts in a financial institution’s portfolio are past due. Permanent overdue borrowers are in a state of default. Financial professionals who do not fulfill their duties and responsibilities are considered delinquents. 18-Hour City
September 25, 2022 Eighteen o’clock cities are vibrant small urban areas that are proving to be attractive to new residents, entrepreneurs and investors. 48-Hour Rule
September 25, 2022 The 48 Hour Rule refers to the part of the mortgage allocation process related to the purchase and sale of Mortgage Backed Securities (MBS) to be announced (TBA). Absorption Rate
September 25, 2022 The takeover ratio is commonly used in the real estate market to determine how many houses are on the market at a given time. Adjusted Funds From Operations (AFFO)
September 25, 2022 Adjusted Funds from Operations (AFFO) is a financial measure used to value a real estate investment fund (REIT). Appraisal Management Company (AMC)
September 25, 2022 A Valuation Management Company (AMC) is an independent real estate appraisal company hired by a lender to appraise a potentially mortgaged property. Capital Improvement
September 25, 2022 A major improvement is a long-term upgrade, adaptation, or improvement to a property that adds value to it, often including structural changes or restoration. Capitalization Rate
September 25, 2022 The capitalization rate is calculated by dividing the property’s net operating income by the current market value. Collateralized Mortgage Obligation (CMO)
September 25, 2022 Collateralized mortgage obligations are investment debt securities consisting of packaged mortgage loans organized according to their risk profiles. Commercial Real Estate
September 25, 2022 Commercial property refers to property used specifically for business or income. Direct Participation Program (DPP)
September 25, 2022 The Direct Participation Program, or DPP, offers investors access to business cash flow and tax incentives. Distressed Sales
September 25, 2022 Pressure selling occurs when the seller urgently needs to sell an asset, often to pay debts or medical expenses, or in other emergencies. Earnest Money
September 25, 2022 A deposit is, in fact, a deposit that the buyer pays for the house he wants to buy. Effective Gross Income (EGI)
September 25, 2022 Effective gross income is calculated by adding the potential gross rental income to other income and subtracting the vacancy and loan costs of the rental property. Encumbrance
September 25, 2022 An encumbrance is a claim made on property by someone other than the current right holder. Escrow Agreement
September 25, 2022 An escrow agreement is a legal document that sets out the terms and conditions between the parties as well as the responsibilities of each of them. Functional Obsolescence
September 25, 2022 Functional obsolescence is the reduction in the usefulness or desirability of an object due to an obsolete design feature that is not easily changed. Gentrification
September 25, 2022 Gentrification is an urban development process in which an urban area develops rapidly in a short time, changing its value from low to high. Gift of Equity
September 25, 2022 Gifting shares involves selling a home at a price below its current market value, but no physical money changes hands. Graduated Lease
September 25, 2022 A staged lease is an agreement between a landlord and a tenant or a landlord and a tenant that establishes periodic adjustments to monthly payments. Grant Deed
September 25, 2022 A deed of gift is used to transfer ownership of real estate, often in conjunction with taxes or a foreclosure sale. Gross Income Multiplier
September 25, 2022 The gross income multiplier is a rough measure of the value of an investment property. Gross Lease
September 25, 2022 Shared rent is a rent that includes any incidental expenses incurred by the tenant. Ground Lease
September 25, 2022 A land lease is a contract whereby the tenant can develop the property for the duration of the lease, after which it is transferred to the property owner. Guarantee Fees
September 25, 2022 Guarantee fee - the amount paid to the issuer of a mortgage-backed security. HUD-1 Form
September 25, 2022 Form HUD-1, which lists all closing costs, is issued to all parties involved in reverse mortgages and mortgage refinance transactions.