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The Safe Drinking Water Act (SDWA) ensures that our tap water is fit to drink. Passed in 1974, SDWA sets national drinking water standards for public systems that deliver water to the tap. SDWA is used with RCRA and CERCLA to protect and cleanup groundwater by setting water quality standards.
- Browse Related Terms: Department of Defense (DOD), Department of Energy (DOE), Department of Transportation (DOT), Environmental Protection Agency (EPA), Federal Facilities Restoration and Reuse Office (FFRRO), Natural Resources Damage (NRD), Occupational Safety and Health Act (OSHA), Office of Enforcement and Compliance Assurance (OECA), Office of Pesticide Programs (OPP), Office of Solid Waste (OSW), Resource Conservation and Recovery Act (RCRA), Safe Drinking Water Act (SDWA)
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When a seller deeds property to a buyer for a payment, and the buyer simultaneously leases the property back to the seller.
A transaction in which the buyer leases the property back to the seller for a specified period of time.
- Browse Related Terms: acceptance, affidavit, Asking Price, Assumable Mortgage, Assumption Clause, Assumption Fee, Assumption of mortgage, Bona fide, Creative financing, Disclosures, Earnest Money, Fair market value, HUD-1 Settlement Statement, non-assumption clause, Offer, Owner Financing, prorate, Rescission, Sale-Leaseback, Seller Take-Back
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The secondary part of a window which holds the glazing in place; may be operable or fixed; usually constructed of horizontal and vertical members; sash may be subdivided with muntins.
- Browse Related Terms: Casement, Details, Double hung, Frame, Glazing Bar, Gothic Sash, Meeting rail, operation, Parting strip, Rail, Sash, Segmental or Curved-Head Window, Tracery
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An association chartered to hold savings and make real estate loans. Active in long-term financing (mortgages) rather than construction loans.
- Browse Related Terms: American Society of Home Inspectors, Broker, Closing Date, Commission, Exclusive Listing, FSBO (For Sale by Owner), key lot, Listing Agreement, Multiple Listing Service (MLS), Open House, Real Estate Agent, Real Estate Professional, REALTOR®, Savings and loan association (S&L), Take out loan, Trade Equity, Transfer Taxes
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A security gate with a sideways retractable mechanism.
- Browse Related Terms: Fixture, Roll-down gate, Scissor Gate, Security gate housing, sign, Signage
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A residence that is not one's principal (primary) residence; for example, a vacation home. See also "primary residence."
- Browse Related Terms: First Time Home Buyer, Home Equity Loan, Joint venture, Lease, Owner Occupied Property, Partnership, Primary residence/second home, Second home
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A mortgage that has a lien position subordinate to the first mortgage.
Similar to a "mortgage." See "second mortgage" under "mortgage."
An additional mortgage on property. In case of a default the first mortgage must be paid before the second mortgage. Second loans are more risky for the lender and usually carry a higher interest rate.
A loan that is junior to a primary or first mortgage and often has a higher interest rate and a shorter term.
- Browse Related Terms: All-inclusive deed of trust, End loan, Interim loan, Junior mortgage, Permanent mortgage, Piggyback loan, second mortgage, Third mortgage, Underlying mortgage, Wraparound mortgage
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A facade that does not face a public thoroughfare or mews or court and that does not possess significant architectural features.
- Browse Related Terms: Minimally Visible, Primary Façade, Principal Façade, Public Thoroughfare, Secondary Façade
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A market comprising investors like GNMA, FHLMC and FNMA, who buy large numbers of mortgages from the primary lenders and resell them to other investors.
- Browse Related Terms: Fannie Mae, Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac), Federal National Mortgage Association (FNMA or Fannie Mae), FNMA, Freddie Mac, Government National Mortgage Association (GNMA or Ginnie Mae), housing affordability index, Loan Servicer, Mortgage pool, Quality Control, Secondary market, Secondary Mortgage Market, Soldiers and Sailors Civil Relief Act, Subordinate
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The buying and selling of mortgage loans. Investors purchase residential mortgages originated by lenders, which in turn provides the lenders with capital for additional lending.
The market in which mortgage loan and mortgage-backed securities are bought and sold.
The buying and selling of first mortgages or trust deeds by banks, insurance companies, government agencies, and other mortgagees. This enables lenders to keep an adequate supply of money for new loans. The mortgages may be sold at full value (par) or above, but are usually sold at a discount. The secondary mortgage market should not be confused with second mortgages.
- Browse Related Terms: Fannie Mae, Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac), Federal National Mortgage Association (FNMA or Fannie Mae), FNMA, Freddie Mac, Government National Mortgage Association (GNMA or Ginnie Mae), housing affordability index, Loan Servicer, Mortgage pool, Quality Control, Secondary market, Secondary Mortgage Market, Soldiers and Sailors Civil Relief Act, Subordinate
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A drawing representing a vertical plane cut through the structure
- Browse Related Terms: Block Plan, Building Plan, Building Streetwall, Elevation, Floor Plan, Oblique, Roof Plan, Section Drawing, Sight line drawing, Site Plan
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A loan backed by collateral such as property.
A loan that is backed by property such as a house, car, jewelry, etc.
- Browse Related Terms: Appraised Value, Appreciation, Cloud On The Title, Comparables, Comparative Market Analysis (COMPS), Depreciation, Encroachment, Eviction, Fire insurance, Grantee, Grantor, income approach to value, Loan-to-value ratio (LTV), Real Estate, Real estate tax, Secured Loan, security, Single-Family Properties, Soft Second Loan, Termite Inspection
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Financial forms that shows the holder owns a share or shares of a company (stocks) or has loaned money to a company or government organization (bonds).
- Browse Related Terms: Common Stock, Cooperative, Cooperative (co-op), Earnings per share (EPS), Homeowners' Association, Preferred Stock, Return On Average Common Equity, Securities, transfer agent
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The property that will be pledged as collateral for a loan.
The property that will be given or pledged as collateral for a loan.
- Browse Related Terms: Appraised Value, Appreciation, Cloud On The Title, Comparables, Comparative Market Analysis (COMPS), Depreciation, Encroachment, Eviction, Fire insurance, Grantee, Grantor, income approach to value, Loan-to-value ratio (LTV), Real Estate, Real estate tax, Secured Loan, security, Single-Family Properties, Soft Second Loan, Termite Inspection
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A movable metal fixture installed in front of a storefront or inside the display window or door to protect the store from theft or vandalism when the store is closed. A security gate can be either the roll-down or scissor variety.
- Browse Related Terms: Awning, Bulkhead, Display Window, Jamb, panning, Security gate, Security gate tracks, Sign band, Spandrel, Spandrel Area, Storefront Bay, Storefront Infill, Storefront Opening, Subframe
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The container that houses the rolling mechanism of a roll-down security gate.
- Browse Related Terms: Fixture, Roll-down gate, Scissor Gate, Security gate housing, sign, Signage
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The interior or exterior tracks along the sides of the storefront (for roll-down gates) or along the top and bottom of the storefront (for scissor gates) that hold the edges of the gates.
- Browse Related Terms: Awning, Bulkhead, Display Window, Jamb, panning, Security gate, Security gate tracks, Sign band, Spandrel, Spandrel Area, Storefront Bay, Storefront Infill, Storefront Opening, Subframe
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An arch that’s in the form of a segment of a semicircle
- Browse Related Terms: English bond, Flemish bond, Keystone, Lunette, Round arch, Segmental arch, Soffit, Voussoir
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A window with a non-rectilinear sash or frame as illustrated and defined as a special window in Appendices A and C of Chapter 3 of these rules.
- Browse Related Terms: Casement, Details, Double hung, Frame, Glazing Bar, Gothic Sash, Meeting rail, operation, Parting strip, Rail, Sash, Segmental or Curved-Head Window, Tracery
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One that will retire itself through regular principal and interest payments.
- Browse Related Terms: Additional Principal Payment, Annual Mortgagor Statement, Annuity, Charge-off, interest, Interest rate, Interest Rate Swap, Nonperforming Asset, Notional Principal Amount, open-end mortgage, Original Principal Balance, P&I, PITI Reserves, Premium, Remaining Balance, Right of rescission, Self-amortizing mortgage, taxes