Net Branch
Definition of "Net Branch"
A facility offered by some lenders to mortgage brokers where de jure the brokers become employees of the lender but de facto they retain their independence as brokers. One of the advantages of this arrangement to brokers is that they need not disclose yield spread premiums received from lenders.
Popular Mortgage Terms
The most recently published value of the index used to adjust the interest rate on an indexed ARM. ...
A mortgage lender that sells all the loans it originates in the secondary market. ...
The house in which the borrower will live most of the time, as distinct from a second home or an investor property that will be rented. ...
All the combinations of interest rate and points that are offered on a particular loan program. On an ARM, rates and points may also vary with the margin and interest rate maximum. ...
A lender who offers mortgage loans directly to the public. ...
A provision of a loan contract stipulating that if the property is sold the loan balance must be repaid. A mortgage containing a due-on-sale clause is not assumable. This prevents a home ...
One of many interest rate indexes used to determine interest rate adjustments on an adjustable rate mortgage. ...
In connection with a home, the value of the home less the balance of outstanding mortgage loans on the home. ...
The lowest interest rate possible under an ARM contract. Floors are less common than ceilings. ...
Have a question or comment?
We're here to help.