Across
- 2. a summary of a customer's financial history
- 4. process where the loan application is reviewed to check for accuracy of the documentation provided
- 6. this portion of the monthly payment goes to pay property taxes and home owner's insurance
- 7. an extensive collection of a borrower's personal information
- 10. the fee charged to the customer for borrowing money
- 11. when the funds are deposited to the borrower's account and are available for use
- 13. a short-term interim loan to pay for the construction of buildings or homes
- 14. part of the monthly payment that reduces the remaining balance of the original loan amount
- 15. a borrower's asset that secures a loan
Down
- 1. the ratio that compares the amount of the loan with the appraised property value
- 3. when a loan does not qualify, a formal notice must be given to the customer
- 5. when the borrower decides to not move forward with their loan application
- 7. type of notice given by a lender when a borrower's loan application has been denied
- 8. the estimated value of a property based on inspection and market comparisons
- 9. the ratio, expressed as a percentage, which results when a borrower's total monthly payments are divided by his/her gross monthly income
- 12. the worth of an asset minus the debt still attached to it