Dictionary

Definition:   an additional source of income for lenders.  Servicing fees are based on the unpaid balance of loans serviced. Pronunciation: Used in a Sentence:   Loan payment collection and recordk...

Definition:  a charge by a lender for taking a mortgage in exchange for a loan Pronunciation:   \-ˌri-jə-ˈnā-shən\ Used in a Sentence:    The loan origination fee is indicated on the settlement sta...

Definition: legal rights related to land abutting an ocean, sea or lake, usually extending to the high-water mark Pronunciation:    ˈli-tə-rəl; ˌli-tə-ˈral, -ˈräl\  \ˈrīt\ Used in a Sentence:    Si...

Definition:   a lawsuit; the act of carrying on a lawsuit; a case before a court of law Pronunciation:  \ˌli-tə-ˈgā-shən\ Used in a Sentence:    The seller started litigation against the buyer when...

Definition:   a written employment agreement between a property owner and a real estate broker or sales agent authorizing the broker/agent to find a buyer or tenant for certain real property Pronun...

Definition:    notice of a pending action involving title or possession of real property; action pending Pronunciation: Used in a Sentence:   A lis pendens informs the public that a legal action is...

Definition:   The ability to sell an asset and convert it into cash at a price close to its true value. Pronunciation:    \li-ˈkwi-də-tē\ Used in a Sentence:    Publically traded stocks have a lot ...

Definition:   the process of determining liabilities and apportioning the assets in order to discharge the indebtedness of a business to be sold Pronunciation:  \ˌli-kwə-ˈdā-shən\ Used in a Sentenc...

Definition:   the amount of valuable consideration specified in an agreement as a penalty for default Pronunciation:   \ˈli-kwə-ˌdāt\ \ˈda-mij\ Used in a Sentence:    Some contracts have a special ...