Dictionary

Loan Servicing

Definition:   an additional source of income for lenders.  Servicing fees are based on the unpaid balance of loans serviced. Pronunciation: Used in a Sentence:   Loan payment collection and recordkeeping for...

Loan Origination Fee

Definition:  a charge by a lender for taking a mortgage in exchange for a loan Pronunciation:   \-ˌri-jə-ˈnā-shən\ Used in a Sentence:    The loan origination fee is indicated on the...

Littoral Rights

Definition: legal rights related to land abutting an ocean, sea or lake, usually extending to the high-water mark Pronunciation:    ˈli-tə-rəl; ˌli-tə-ˈral, -ˈräl\  \ˈrīt\ Used in a Sentence:    Since the land...

Litigation

Definition:   a lawsuit; the act of carrying on a lawsuit; a case before a court of law Pronunciation:  \ˌli-tə-ˈgā-shən\ Used in a Sentence:    The seller started litigation against the buyer...

Listing

Definition:   a written employment agreement between a property owner and a real estate broker or sales agent authorizing the broker/agent to find a buyer or tenant for certain real property...

Lis Pendens

Definition:    notice of a pending action involving title or possession of real property; action pending Pronunciation: Used in a Sentence:   A lis pendens informs the public that a legal...