APPRAISAL
An estimate and opinion of the value of real property based on the analysis of facts. Facts are derived from comparisons and market conditions, etc.

CONDITIONS
Restrictions on loan or property that must be corrected or completed before loan can be closed.

CREDIT RATING
The rating of an individual as a credit risk, based on past record of debt repayment history, financial status, etc.

ESCROW
A deposit of documents, funds and instructions with a neutral third party to carry out the provisions of an agreement of contract.

PAYOFF
Letter stating requirements and amounts necessary to clear

STATEMENT:
underlying loan.

TITLE INSURANCE
Insurance policy written to protect a property owner or lender against loss if title is defective.

TITLE REPORT
A preliminary report disclosing condition of title on real property issued prior to Title Insurance Policy.

UNDERWRITING
Analyzing the risk and matching it to the appropriate loan program, loan amount, rate and term.