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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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Loan Product

The terms offered to a borrower for a mortgage loan, based on an investors published loan program guidelines, is the loan product. A single loan program has many loan products. For example, an investor loan program of Conforming ARM may offer 3/1, 5/1, and 7/1 "Conforming ARM" products.

See Loan Program
See Correspondent Lending and Mortgage Loan Production Overview
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Terminology, definitions, terms, explanations, and documents for business professionals in the mortgage lending and mortgage risk management industries.