Definition: a person or firm that acts as an intermediary between borrower and lender: one who , for compensation or gain, negotiates, sells or arranges loans and sometimes continues to service the loans
Used in a Sentence: We used a mortgage broker to negotiate the best loan for our purchase.
Definition: a legal agreement in which a person borrows money to buy property and pays back the money over a period of years
Used in a Sentence: We applied for a 30 year mortgage when we bought our house.
Definition: an act or behavior that gravely violates the sentiment or accepted standard of the community
Pronunciation: \-ˈtər-pə-ˌtüd, -ˌtyüd
Used in a Sentence: State licensing authorities may refuse to issue a license to any person convicted of a crime involving moral turpitude.
Definition: a visible marker, either a natural or artificial object, set by the government or surveyors, used to establish the lines and boundaries of a survey
Used in a Sentence: The surveyor identifies each corner of the property with a visible marker called a monument.
Definition: the actions undertaken by the Fed to influence the availability and cost of money and credit
Pronunciation: \ˈmä-nə-ˌter-ē also ˈmə-\ \ˈpä-lə-sē\
Used in a Sentence: The Federal Reserve is charged with the action of setting monetary policy.
Definition: a false statement or concealment of a material fact made with the intention of inducing some action by another party
Pronunciation: \(ˌ)mis-ˌre-pri-ˌzen-ˈtā-shən, -zən-\
Used in a Sentence: Misrepresentation can be an affirmative statement such as, “This house does not have termites.”
Definition: a crime that carries a less severe punishment than a felony; specifically: a crime punishable by a fine and by a term of imprisonment not to be served in a penitentiary and not to exceed one year
Used in a Sentence: Failure to provide accurate and current rental information for a fee is a first-degree misdemeanor.
Definition: the duties of the Division of Real Estate that involve recordkeeping
Used in a Sentence: All of the recordkeeping done by the Division of Real Estate is part of their ministrial duties.