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LendingRisk.com Mortage Industry Dictionary

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

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Commitment

1. A written agreement between a lender and a borrower to make a loan on specific terms.

2. A written agreement between an investor and a seller in which the seller agrees to deliver a loan(s) with specific loan characteristics to the investor on or before a specified date.

See Best Efforts Delivery Commitment
See Mandatory Delivery Commitment
See Mortgage Correspondent Lending and Loan Production
See Mortgage Industry Seller Pull-through Overview

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