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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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Indemnity

In the secondary mortgage market, when an investor determines that a loan purchased from a seller contains a defect, the investor can request in accordance with the seller agreement that the seller provide an insurance policy to protect the investor in the event of loan default. This insurance policy is commonly referred to as an indemnification or indemnity. Smaller seller organizations will typically chose to pay for an indemnification in lieu of repurchasing the loan from the investor.

See Investor
See Mortgage Loan Repurchase & Indemnity Overview
See Repurchase
See Seller
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Terminology, definitions, terms, explanations, and documents for business professionals in the mortgage lending and mortgage risk management industries.