A   B   C   D   E   F   G   H    J   K   L   M   N   O   P   Q   R   S   T   U   V   W   X   Y   Z

The number of percentage points a lender adds to the index value to calculate the ARM interest rate at each adjustment period.  A representative margin would be 2.75%.
marketable title
Good or clear title, reasonably free from the risk of litigation over possible defects.
market data approach
(also known as the sales comparison approach)  An estimate of value obtained by comparing property being appraised with recently sold comparable properties.
market value
The most probable price property would bring in an arm's-length transaction under normal conditions on the open market.
mechanic's lien
A statutory lien created in favor of contractors, laborers, and materialmen who have performed work or furnished materials in the erection or repair of a building.
meter-and-bounds description
A legal description of a parcel of land that begins at a well-marked point and follows the boundaries, using directions and distances around the tract, back to the place of beginning.
One-tenth of one cent.  some states use a mill rate to compute real estate taxes; for example, a rate of 52 mills would be $0.052 tax for each dollar of assessed valuation of a property.
A legal document that pledges a property to the lender as security for payment of a debt.
mortgage disability insurance
A disability insurance policy which will pay the monthly mortgage payment in the event of a covered disability of an insured borrower for a specified period of time.
mortgage insurance (MI)
Insurance written by an independent mortgage insurance company protecting the mortgage lender against loss incurred by a mortgage default.  Usually required for loans with an LTV of 80.01% or higher.
The person or company who receives the mortgage as a pledge for repayment of the loan.  The mortgage lender.
mortgage lien
A lien or charge on the property of a mortgagor that secures the underlying debt obligations.
The mortgage borrower who gives the mortgage as a pledge to repay.
multiperil policies
Insurance policies that offer protection from a range of potential perils, such as those of a fire, hazard, public liability, and casualty.
multiple-listing service (MLS)
A marketing organization composed of member brokers who agree to share their listing agreements with one another in the hope of procuring ready, willing, and able buyers for their properties more quickly than they could on their own.

Return to TOP