Terms pertaining to US mortgages include:
Contents
Main two types
Origination and Re-Financing Origination: starting from the scrap, Ex, A person want to buy a home and go to the bank for the same will get loan of 80% of their LTV. Re-finance: defaulted borrower can apply for the same refinancing procedure to re modify the loan term,interest rate.
Mortgage types
Terminology
References
Glossary of US mortgage terminology Wikipedia(Text) CC BY-SA