Competition in the mortgage lending industry has led to an easing of credit underwriting standards.
Financial and business terms. 2012.
Underwriting — refers to the process that a large financial service provider (bank, insurer, investment house) uses to assess the eligibility of a customer to receive their products (equity capital, insurance, mortgage or credit). The name derives from the… … Wikipedia
Credit counseling — (known in the United Kingdom as debt counseling) is a process that involves offering education to consumers about how to avoid incurring debts that cannot be repaid through establishing an effective Debt Management Plan and Budget. Credit… … Wikipedia
Underwriting spot — An underwriting spot is an announcement made on public broadcasting outlets, especially in the United States, in exchange for funding. These spots usually mention the name of the sponsor, and can resemble traditional advertising in commercial… … Wikipedia
Credit score — A credit score is a numerical expression based on a statistical analysis of a person s credit files, to represent the creditworthiness of that person. A credit score is primarily based on credit report information typically sourced from credit… … Wikipedia
Mortgage underwriting in the United States — is the process a lender uses to determine if the risk of offering a mortgage loan to a particular borrower under certain parameters is acceptable. Most of the risks and terms that underwriters consider fall under the three C’s of underwriting:… … Wikipedia
Consumer credit risk — The following article is based on UK market, other countries may differ. Consumer Credit Risk (AKA Retail Credit Risk) is the risk of loss due to a customer s non re payment (default) on a consumer credit product, such as a mortgage, unsecured… … Wikipedia
Mortgage underwriting — is the process a lender uses to determine if the risk (especially the risk that the borrower will default[1] ) of offering a mortgage loan to a particular borrower is acceptable. Most of the risks and terms that underwriters consider fall under… … Wikipedia
Automated Underwriting — A computer generated loan underwriting decision. Using completed loan application information, an automated underwriting systems retrieves relevant data, such as a borrower’s credit history, and arrives at a logic based loan decision. Some… … Investment dictionary
Prime Underwriting Facility — A kind of revolving underwriting facility. Prime underwriting facilities peg the lender s yield to the bank s prime rate. Most prime underwriting facilities are short term notes of some sort. The usual prime underwriting facility is a note with a … Investment dictionary
Commercial credit reporting — is the maintenance and reporting of credit histories and risks for commercial companies. While most people are familiar with consumer credit reports many are unaware that a similar reporting system exists to assess risk in extending loans to… … Wikipedia
