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Guttentag, Jack. The Mortgage Encyclopedia: The Authoritative Guide to Mortgage Programs, Practices, Prices and Pitfalls, Second Edition. US: McGraw-Hill, 2010.

The Mortgage Encyclopedia: The Authoritative Guide to Mortgage Programs, Practices, Prices and Pitfalls, Second Edition

Authors: Jack Guttentag

Published:  May 2010

eISBN: 9780071742252 0071742255 | ISBN: 9780071739580
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  • The Mortgage Encyclopedia
  • Topics
  • Preface to the Second Edition
  • Acknowledgments
  • A
  • A-Credit
  • A-Minus
  • Acceleration Clause
  • Accrued Interest
  • Adjustable-Rate Mortgage (ARM)
  • Adjustment Interval
  • Affordability
  • Agreement of Sale
  • Alt-A
  • Alternative Documentation
  • Amortization
  • Amount Financed
  • Annual Percentage Rate (APR)
  • Application
  • Application Fee
  • Appraisal
  • Appraisal Fee
  • Appraisal Management Company (AMC)
  • Appraiser
  • Approval
  • APR
  • ARM
  • Assignment
  • Assumable Mortgage
  • Assumption
  • Auction Sites
  • Authorized User
  • Automated Underwriting
  • Automated Underwriting System
  • B
  • “Bad Faith” Estimate
  • Bailout
  • Balance
  • Balloon
  • Balloon Mortgage
  • Bimonthly Mortgage
  • Biweekly Mortgage
  • Blemished Borrowers
  • Bridge Financing
  • Builder-Financed Construction
  • Buy-Down
  • Buy-Up
  • C
  • Cash-Out Refinance
  • Closing
  • Closing Costs
  • Closing Date
  • Coborrowers
  • COFI
  • Collateralized Debt Obligation (CDO)
  • Conforming Mortgage
  • Construction Financing
  • Contract Chicanery
  • Conventional Mortgage
  • Conversion Option
  • Correspondent Lender
  • Cosigning
  • Cost of Savings Index (COSI)
  • Credit Report
  • Credit Score
  • Cumulative Interest
  • Current Index Value
  • D
  • Danish Mortgage System
  • Deadbeat
  • Debtaholic
  • Debt Consolidation
  • Debt Elimination
  • Deed in Lieu of Foreclosure
  • Default
  • Deferred Interest
  • Delinquency
  • Demand Clause
  • Desecuritization
  • Direct Lender
  • Disaster Myopia
  • Discount Mortgage Broker
  • Discount Points
  • Discretionary ARM
  • Discriminatory Mortgage Pricing
  • Documentation Requirements
  • Doubling Down on Mortgage Payments
  • Down Payment
  • “Dual Apper"
  • Dual Index Mortgage
  • Due-on-Sale Clause
  • E
  • Effective Rate
  • 80/10/10, 80/15/5, and 80/20/0 Loan Plans
  • Equity
  • Equity Grabbing
  • Escrow
  • Escrow Abuse
  • Escrow Account
  • F
  • Fallout
  • Fannie Mae
  • Fee Escalation
  • FHA Mortgage
  • FICO Score
  • Financing Points
  • First Mortgage
  • Fixed-Rate Mortgage (FRM)
  • Flexible-Payment ARM
  • Float
  • Float-Down
  • Forbearance Agreement
  • Foreclosure
  • 40-Year Mortgage
  • Freddie Mac
  • Fully Amortizing Payment
  • Fully Indexed Rate
  • G
  • Generic Prices
  • Gift of Equity
  • Good Fairy Syndrome
  • Good Faith Estimate (GFE)
  • Government National Mortgage Association (GNMA)
  • Grace Period
  • Graduated Payment Mortgage (GPM)
  • Graduation Period
  • Graduation Rate
  • H
  • Hazard Insurance
  • Historical Scenario
  • Home-Account
  • Homebuyer Protection Plan
  • Home Equity Conversion Mortgage (HECM)
  • Home Equity Line
  • Home Equity Line of Credit (HELOC)
  • Home Equity Loan
  • Home Keeper
  • Homeowner’s Equity
  • Homeowners Insurance
  • Home Owners Loan Corporation (HOLC)
  • Homeownership Accelerator (HOA)
  • Home Valuation Code of Conduct (HVCC)
  • Housing Bank
  • Housing Bubble
  • Housing Expense
  • Housing Expense Ratio
  • Housing Investment
  • HUD-1 Form
  • Hybrid ARM
  • I
  • Indexed ARMs
  • Initial Interest Rate
  • Initial Rate Period
  • Interest Accrual Period
  • Interest Cost (IC)
  • Interest Due
  • Interest-Only Mortgage (Option)
  • Interest Payment
  • Interest Rate
  • Interest Rate Adjustment Period
  • Interest Rate Ceiling
  • Interest Rate Decrease Cap
  • Interest Rate Floor
  • Interest Rate Increase Cap
  • Interest Rate Index
  • Internet Mortgages
  • Investment Property
  • Investor
  • J
  • Jumbo Mortgage
  • Junk Fees
  • L
  • Late Fees
  • Late Payment
  • Lead-Generation Site
  • Leads
  • Lease-to-Own
  • Lender
  • Lender-Pay Mortgage Insurance (LPMI)
  • LIBOR
  • LIBOR ARM
  • Lien
  • Loan Amount
  • Loan Discount Fee
  • Loan Flipping
  • Loan Officers
  • Loan Provider
  • Loan-to-Value Ratio (LTV)
  • Locking
  • Lock Commitment Letter
  • Lock Expiration
  • Lock Failure
  • Lock Jumper
  • Lock Period
  • Lowballing
  • M
  • Mandatory Disclosure
  • Manufactured Home
  • Margin
  • Market Niche
  • Maturity
  • Maximum Combined Loan-to-Value Ratio (CLTV)
  • Maximum Loan Amount
  • Maximum Loan-to-Value Ratio
  • Maximum Lock Period
  • Minimum Down Payment
  • Monthly Debt Service
  • Monthly Housing Expense
  • Monthly Total Expense
  • Mortgage
  • Mortgage Auction Site
  • Mortgage-Backed Security (MBS)
  • Mortgage Bank
  • Mortgage Bond
  • Mortgage Broker
  • Mortgage Company
  • Mortgage Equations
  • Mortgage Grader
  • Mortgage Insurance
  • Mortgage Insurance Premium
  • Mortgage Leads
  • Mortgage Lender
  • Mortgage Marvel
  • Mortgage Modification
  • Mortgage Payment
  • Mortgage Payment Insurance (MPI)
  • Mortgage Price
  • Mortgage Price Quotes
  • Mortgage Program
  • Mortgage Referrals
  • Mortgage Scams and Tricks
  • Mortgage Shopping
  • Mortgage Spam
  • Mortgage Suitability
  • N
  • Negative Amortization
  • Negative Amortization Cap
  • Negative Equity
  • Negative Points
  • Net Branch
  • Net Jumping
  • Nichification
  • No-Asset-Verification Loan
  • No-Change Scenario
  • No-Cost Mortgage
  • NOHOs
  • No-Income Loan
  • Nominal Interest Rate
  • Nonconforming Mortgage
  • Nonpermanent Resident Alien
  • No-Ratio Loan
  • No-Surprise ARM
  • Note
  • O
  • 100% Loan
  • 125% Loan
  • Opportunity Cost
  • Option ARM
  • Option Fee
  • Origination Fee
  • Overage
  • P
  • Par Price
  • Par Rate
  • Partial Prepayments (or Paying Off Early)
  • Pay-Down Magic
  • Payment Adjustment Cap
  • Payment Adjustment Interval
  • Payment Period
  • Payment Power
  • Payment Problems
  • Payment Rate
  • Payment Shock
  • Payoff Month
  • Per Diem Interest
  • Permanent Buy-Down
  • Piggyback Mortgage
  • Pipeline Risk
  • PITI
  • PMI
  • Points
  • Portable Mortgage
  • Portfolio Lender
  • Posted Prices
  • Preapproval
  • Predatory Lending
  • Prepaid Finance Charges
  • Prepayment
  • Prepayment Penalty
  • Prequalification
  • Price Gouging
  • Pricing Notch Point (PNP)
  • Primary Mortgage Market
  • Primary Residence
  • Principal
  • Principal Limit
  • Private Mortgage Insurance (PMI)
  • Processing
  • Purchase Money Mortgage
  • Q
  • Qualification
  • Qualification Rate
  • Qualification Ratios
  • Qualification Requirements
  • R
  • Rate
  • Rate-Point Breakeven
  • Rate-Point Options
  • Rate Protection
  • Rate Sheets
  • Rebate
  • Recast Clause
  • Referral Fees
  • Referral Site
  • Refinance
  • Required Cash
  • RESPA
  • Retail Lender
  • Reverse Mortgage
  • Right of Rescission
  • S
  • Scenario Analysis of ARMs
  • Scheduled Mortgage Payment
  • Second Mortgage
  • Secondary Mortgage Markets
  • Self-Employed Borrower
  • Seller Contribution
  • Seller Financing
  • Servicing
  • Servicing Agent
  • Servicing Fee
  • Servicing Release Premium
  • Servicing Rights
  • Servicing Transfer
  • Settlement Costs
  • Settlement Statement (HUD-1)
  • Shared Appreciation Mortgage (SAM)
  • Shopping Site
  • Short Sale
  • Silent Second
  • Simple Interest
  • Simple Interest Biweekly Mortgage
  • Simple Interest Mortgage
  • Single File Mortgage Insurance
  • Single-Lender Web Site
  • Stated Assets
  • Stated Income
  • Streamlined Refinancing
  • Subordinate Financing
  • Subordination Policy
  • Subprime Borrower
  • Subprime Lender
  • Subprime Market
  • Swing Loan
  • T
  • Tangible Net Benefit Rule
  • Tax Deductibility (of Interest and Points)
  • Teaser Rate
  • Temporary Buy-Down
  • Temporary Lender
  • Term
  • 3/2 Down Payment
  • Time Horizon Cost (THC)
  • Title Insurance
  • Total Annual Loan Cost (TALC)
  • Total Expense
  • Total Expense Ratio
  • Total Interest Payments
  • Truth in Lending (TIL)
  • 12 MTA
  • U
  • Underage
  • Underwriting
  • Underwriting Requirements
  • Upfront Mortgage Broker (UMB)
  • Upfront Mortgage Lender (UML)
  • USDA Mortgage
  • V
  • VA Mortgage
  • W
  • Waiver of Escrows
  • Warehouse Lender
  • Warrantable Condo
  • Weekly Payment Mortgage
  • Wholesale Lender
  • Wholesale Mortgage Prices
  • Workout Assumption
  • Worst-Case Scenario
  • Wraparound Mortgage
  • Y
  • Yield Curve
  • Yield-Spread Premium
  • Z
  • Zero Balance
  • Zillow Mortgage
  • About the Author