Category: R

Deposit a borrower pays to lock in their interest rate for the period while their mortgage application is processed. If interest rates drop, the borrower may choose the lower rate.

This is the procedure used to determine the cost for premiums for a group based on the risk they represent. Factors including age, cost to administer and sex are considered.

The Number of homes, which are exposed to a media schedule multiplied by the number of times they are exposed. The result will indicate the total potential audience exposure in a specific

A real estate broker has met the education requirements and qualifies for their own business. They may hire other agents from whom they will earn a commission from sales volumes.

1. Recognition that it is not possible to declare with absolute certainty that an event will or will not happen. 2. Qualification that while a standard conforms to limits it is not

A certificate that is comparable to a lien and distributed by a receiver to cover assets in the event of liquidation. Payments come first, before any other claims can be paid.

This term refers to an arrangement between two parties that allows the roles of buyer and seller to be interchangeable. Each sells to the other and buys from each other.

The act of entering documents affecting interests in real estate in the recorder’s office established in each county. Until it is recorded, a deed or mortgage ordinarily is not effective against subsequent

A type of transaction, repeated frequently and at fixed intervals. Usually associated with the accounts payable and accounts receivable part of the ledger. An example would be the monthly rent paid for

Improvements made by a land developer including the erection of buildings, facilities, structures, and so on, that follow site enhancement by the local government.

The act of contacting previous employers of a job applicant to determine his or her job history. Reference check may also include checking with schools attended by the applicant to verify education.

This term refers to the converting or retooling a facility or plant to handle a different product and/or process. See also: back fitting

This term refers to a small, geographical area.

Term used when rejecting a claim for insurance or if the risk for insurance is deemed to be too great.

Any data that applies to the situation or problem that can help towards finding a solution.

Another name or term for ATM (Automatic teller Machine).

1. The act or process of replacing or of being replaced; substitution. 2. One that replaces, especially a person assigned to a vacant military position.

1. Any demands, constraints, needs, necessities needed to be met. 2. Marketing. Standard of benefit, timeliness, cost and value of the product as seen by the customer.

Usually expressed as a percentage of a project loan. It ois the net cash flow that remains after loan servicing. Called residual cover also.

A doctrine that holds the employer liable for any wrongful acts of any employee in leagl terms.