Mortgage terms starting with E

7 terms

1. Emergency Economic Stabilization Act (EESA) A 2008 statute that authorized the U.S. Department of the Treasury to undertake specific measures to provide stability and prevent disruption in the…
2. Emergency Home Finance Act of 1970 The Emergency Home Finance Act of 1970 created Freddie Mac and authorized it to create a secondary market for conventional mortgages.
3. Equity Another word for "stock." It represents an ownership interest by shareholders in a corporation.
4. Equity stripping The lender encourages you to borrow heavily from the equity in your home (the amount you own free and clear of your mortgage) as an easy way to get…
5. Escrow A financial instrument held by a third party on behalf of the other two parties in a transaction.
6. Escrow Account An account that serves a specific purpose, which ends when a certain condition is met or a certain event occurs.
7. Escrow Analysis The periodic examination of escrow accounts by a mortgage company to verify that monthly deposits are sufficient to pay taxes, insurance, and other…