Business / Real Estate / Reverse-Annuity Mortgage (RAM): A loan under which the homeowner receives monthly payments based on his or her accumulated equity rather than a lump sum. The loan must be repaid at a prearranged date or upon the death of the owner or the sale of the property.
Business / Real Estate / Multiclass Mortgage Securities: Short- and long-term mortgage securities, with or without pass-through privileges. MORE
Business / Real Estate / Mortgagees Title Insurance: An insurance policy protecting the lender for the amount of the loan in the event of a future title dispute. MORE
Business / Taxes / Mortgage-Backed Security: Mortgage-backed securities are created when the sponsor buys up mortgages from lenders, pools them, and packages them for sale to the public, a process known as securitization. The securities are avai MORE