- The lender in a mortgage transaction.
mortgage lender, financial backer, moneylender, loan company, mortgage company
Related Terms and Acronyms
- Assignee — Definition,
- A person appointed to acquire (take) an item, such as a property.
- In the insurance industry, an assignee is someone who is assigned ownership of another person's insurance policy.
- Bank — Definition,
- An institution that acts as a financial intermediary by receiving money from depositors and lenders and also lending to borrowers.
- Conditional Commitment — Definition,
- A promise by a lender to make a loan if the borrower meets certain requirements.
- Lead Lender — Definition,
- A financial institution which heads up a financial consortium or syndicate to provide funds for a mortgage.
- Lender — Definition,
- The bank or mortgage company offering the loan.
- Loan Commitment — Definition,
- A lender's promise to advance a specific sum on specific terms.
- Mortgage (mtg) — Abbreviation, Important,
- A mortgage is a contract stipulating a specific real property, typically a residence or building, as collateral for a loan. The mortgage incurs a rate of interest that varies according to term and other features.
- Mortgage Application — Definition, Very Important,
- A document in which a prospective borrower details his or her financial situation to qualify for a loan.
- Mortgage Banker — Definition, Important,
- An employee of a large bank who finds financing for the general public.
- Mortgage Broker (MB) — Acronym, Important,
- One who finds clients perspective lenders at generally no cost. Mortgage Brokers have a special relationship with lenders and can offer their clients the best rates and service. CanEquity goes through great lengths to ensure you are serviced by the best Mortgage Brokers in Canada.
- Mortgagor — Definition,
- The borrower in a mortgage transaction.
- Payee — Definition,
- The name of the person to whom the money in a cheque is to go.
- Payor — Definition,
- One who makes a payment to another party.
- Private Lender — Definition,
- A lender not associated with a traditional lender.