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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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Unit

In the mortgage industry a unit is a self-contained dwelling structure, (minimally defined as providing an entrance, sleeping, kitchen and bathroom facilities), that can be occupied by a family or rented to individuals. An individual may buy a single property that contains a dwelling structure with more than one unit.

See Mortgage Loan Property Type Overview
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Terminology, definitions, terms, explanations, and documents for business professionals in the mortgage lending and mortgage risk management industries.