Facebook Twitter LinkedIn
ABOUT US | SEARCH | CAREERS | CONTACT GIVE US A CALL 800-965-9910 Equal Housing Lender


Search For A Loan Officer By Name

Search For A Loan Officer By Name
Hit The Enter Key To Search

Press Releases

Cornerstone Mortgage, Inc. Welcomes Pam Daley
Cornerstone Mortgage, Inc. is Now Ranked the 17th Fastest Growing Privately-Held Company in the St. Louis Region
Cornerstone Mortgage, Inc. Opens a New Office in Lee's Summit
Cornerstone Mortgage, Inc. Completes 3rd Agency Approval with Freddie Mac
Cornerstone Mortgage, Inc. Announces ProLoan Approval Status
read more

Glossary

A  B  C  D  E  F  G  H  I  J  K  L  M  N  O  P  Q  R  S  T  U  V  W  X  Y  Z  
Lien
A claim by one person on the property of another as security for money owed. Such claims may include obligations not met or satisfied, judgments, unpaid taxes, materials, or labor. The lender's right to claim the borrower's property in the event the borrower defaults. If there is more than one lien, the claim of the lender holding the first lien will be satisfied before the claim of the lender holding the second lien, which in turn will be satisfied before the claim of a lender holding a third lien, etc.
Loan-to-value ratio
The loan amount divided by the lesser of the selling price or the appraised value. Also referred to as LTV.
Lock
An option exercised by the borrower, at the time of the loan application or later, to "lock in" the rates and points prevailing in the market at that time. The lender and borrower are committed to those terms, regardless of what happens between that point and the closing date.
Lock period
The number of days for which any lock or cap holds.