Definition
Recording
Entering a document into the public land records, which establishes priority among competing claims.
Nearby terms
Recast
Re-amortizing an existing loan after a lump-sum principal payment, lowering the payment while keeping the rate and payoff date.
Reconveyance
The instrument recorded when a deed of trust is satisfied, releasing the lien and returning clear title to the owner.
Reserves
Liquid assets remaining after closing, expressed in months of housing payments.
RESPA
The Real Estate Settlement Procedures Act, governing settlement practices and prohibiting kickbacks for referrals of settlement services.
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