Dictionary

Definition:   An active participant in the secondary mortgage market that buys and sells mortgages. Pronunciation:   \ˈfa-nē\ \ˈmā\ Used in a Sentence:   A few months after we bought our house our ...

Definition:   A protected class as defined in the Fair Housing Act, consisting of one or more individuals under age 18 living with a parent or legal guardian, pregnant women, foster parents and a p...

Definition:   An act found in Title VIII of the Civil Rights Act of 1968 that created protected classes of people and prohibits discrimination  based on race, color, religion, sex, national origin,...

Definition:   The act of failing to pay money to a person entitled to receive it. Pronunciation: Used in a Sentence:

Definition:  A process by which the record of a criminal conviction is destroyed or sealed after expiration of time. Pronunciation:  \ik-ˈspənj-mənt\ Used in a Sentence:    The man asked for an exp...

Definition:   An agreement where all terms and conditions have been spelled out and a meeting of the minds is reached in words of agreement and mutual understanding.  May be written, oral or a comb...

Definition:   Property that has been declared to be excluded from taxation or claim by others. Pronunciation:  \ig-ˈzem(p)t\ Used in a Sentence:   The church is exempt from having to pay taxes on i...

Definition:  A contract in which one or both parties have not yet performed some condition. Pronunciation: \ig-ˈze-k(y)ə-ˌtȯr-ē\ \ˈkän-ˌtrakt\ Used in a Sentence:   It was considered an executory ...

Definition:   A contract that has been performed fully. Pronunciation:   \ˈek-si-ˌkyüt-ed\ \ˈkän-ˌtrakt\ Used in a Sentence:   Once everyone had signed the document it became an executed contract.