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Mortgage Glossary
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UNDERWRITER:
A person who reviews and evaluates an application for a loan or insurance policy.

UNDERWRITING:
The decision as to whether or not to accept a loan or insurance application.

UNSECURED LOAN:
A loan in air, with no asset pledged as collateral or security for it.

USURY:
The illegal act of charging extremely high interest rates on a loan.


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This glossary is a compilation of terms commonly used in the real estate, mortgage and construction industries. This publication has been created to provide general overview information with regard to these industries, and while generic, this information may not be applicable to all juristictions. It is provided with the understanding that the publisher is not engaged in the rendering of legal, mortgage or any other professional advice or services. If legal advice or other expert assistance is required or needed, the services of the appropriate professional should be sought and you should not rely on the information found herein.


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