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Mortgage Dictionary


Terminology, definitions, explanations, and documents for business professionals in the mortgage lending and mortgage risk management industries, as they are used on LendingRisk.com.

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E

Early Payment Default
In the mortgage industry an Early Payment Default (EPD) is a mortgage loan that goes 90+ days delinquent or into a default status in its first year. Early payment default is an indicator of possible mortgage fraud. As a result, most mortgage industry investors are very concerned with identifying early payment defaults and performing quality control checks to determine if mortgage fraud has occurred.

See Default
See Early Payment Default (EPD) Overview
See Mortgage Fraud
Early Payoff
In the mortgage industry, the term Early Payoff is typically used in reference to the process whereby a borrower refinances their current mortgage for a better offer with a different lender. Early Payoffs represent an increasingly expensive challenge to lenders, as most investors will require their sellers to repay any premiums for loans with an early payoff.


See Mortgage Loan Early Payoff Overview
See Borrower Runoff
See Churning
See Prepayment
EPD
In the mortgage industry, EPD is an acronym for Early Payment Default.

See Early Payment Default (EPD)
See Early Payment Default (EPD) Overview

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Terminology, definitions, terms, explanations, and documents for business professionals in the mortgage lending and mortgage risk management industries.