Definition
Negative Amortization
A situation in which the payment is insufficient to cover accrued interest, so the balance grows.
Nearby terms
Mortgage Insurance Premium
Insurance on FHA loans, charged both upfront and annually, and permanent on most current loans with less than 10% down.
Mortgage-Backed Security
An investment instrument composed of pooled mortgages.
Net Operating Income
Rental income less all operating expenses, before debt service.
Non-QM Loan
A loan that does not meet the Qualified Mortgage standard, typically because income is documented differently.
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