Dictionary

Definition:   A meeting of the minds; a mutual assent of the parties to the formation of the contract Pronunciation:   \ˈmyü-chə-wəl\ \ə-ˈsent, a-\ Used in a Sentence:    The buyer and seller reach...

Definition:  a transactional agreement between Florida and another state that provides for the two states to recognize each other’s real estate license education. Pronunciation:   \ˈmyü-chə-wəl\ \ˌ...

Definition:   a service arrangement among members of a real estate board or exchange that allows each member broker to share listings with other members so that greater exposure is obtained and a g...

Definition:   licenses held by a broker in two or more real estate brokerage firms Pronunciation:   \ˈməl-tə-pəl\\ˈlī-sən(t)s\ Used in a Sentence:   Because Jane was the broker for two separate bro...

Definition:   a person who borrows money for buying property; a person who takes out a mortgage in order to buy property Pronunciation:   \ˌmȯr-gi-ˈjȯr\ Used in a Sentence:   The mortgagor gave t...

Definition:   fee paid by FHA borrowers to obtain a loan (up front and annual) Pronunciation:  \ˈmȯr-gij\ \in-ˈshu̇r-ən(t)s\ \ˈprē-mē-əm\ Used in a Sentence:   The MIP payment was calculated into ...

Definition:    a lender who holds a mortgage on specific property as security for the money loaned to the borrower Pronunciation:   \ˌmȯr-gi-ˈjē\ Used in a Sentence:    We used our local bank as t...

Definition:  person who solicits or offers to solicit mortgage loans, accepts or offers to accept mortgage loan applications, negotiates the terms or conditions of new or existing loans, processes ...

Definition:    a business entity that originates, sells and then services mortgage loans.  They are not depository institutions.  They originate loans and then package the loans together and sell t...