Mortgage: terms that market participants use
To deal with the fact that such a mortgage, we have to understand a number of terms (and if necessary, and learn). To make it easier, I created a small dictionary of terms. It should make little effort to understand these terms, and the answer to the question: "what is a mortgage? - will be simple and direct.
So, for the cause!
Please note that the same terms can mean very different things and concepts. The same with the mortgage term, using bank officer-could mean one, with the insurance activities mean more.
For example, "underwriting" - in mortgage is: a set of conformity assessment requirements of the submitted data bank;
but "underwriting" - in the adoption of insurance-insurance liability for loss or damage claimed reward (premium). Usually performed after determining the acceptability of the proposed size and the risk premium. (Glossariy)
Here, I will explain only the meaning of the terms used in the mortgage.
Many terms are "combination": consisting of two or more terms. Example: Mortgage "borrower" it is "chargor." Therefore, we can say "zaemschik-zalogodatel" bank-credit, so relative to the borrower's bank is not just a bank, but "credit-bank."
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