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MAI Appraisal: This is an appraisal that is performed by an Appraisal Institute appraiser or general appraiser.
Margin: The margin is the amount the lender adds to the current index interest rate to determine ARM rates.
Marginal Credit Customers: These consumers have experienced late payments in the past but generally pay their bills.
Market Analysis Data: This is demographic data about a particular market or area.
Market Price: This is the price of a security as determined by both buyers and sellers in the market.
Market Rate: This is the rate charged by lenders conventional or fixed-rate mortgages and loans.
Market Value: The value of a property or security in the current market between a buyer and seller.
Master Broker: Someone certified by the American Cash Flow Association to work with Diversified Cash Flow Specialists.
Mezzanine: ??
Mortgage: A loan used to purchase a house and the house is used as a collateral to secure the loan.
Mortgage Banker: One who specializes in issuing mortgages for resale in the secondary market.
Mortgage Broker: One who acts as a liaison between a potential borrower and a lender or many lenders for a fee.
Mortgage Insurance (Private Mortgage Insurance or PMI): Insurance that protects lenders from losing money in the case of a default. This is for loans that aren’t federally insured, however some federally insured loans require PMI for high loan-to-value ratios.
Mortgage Insurance Premium (MIP): The borrowers cost for private mortgage insurance.
Mortgage Note: The note is the legal loan agreement between the borrower and the lender that the borrower will repay the debt, at a specified interest rate and with specified terms.
Mortgagee: This is the lender in a mortgage.
Mortgagor: This is the borrower in a mortgage.
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