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what is...
BORROWER
Someone who receives funds in the form of a loan with the obligation of repaying the loan in full with interest, if applicable.
ALSO SEE: VERIFICATION OF EMPLOYMENT, SCHEDULED MORTGAGE PAYMENT, ALTERNATIVE DOCUMENTATION, UNDERWRITING REQUIREMENTS, CONSTRUCTION FINANCING, LOCK COMMITMENT LETTER, MANDATORY DISCLOSURE, NET EFFECTIVE INCOME, HOMEOWNERS INSURANCE, RIGHT OF RESCISSION, ACCELERATION CLAUSE, CUMULATIVE INTEREST, TOTAL EXPENSE RATIO, MORTGAGE INSURANCE, BIMONTHLY MORTGAGE, PRE-QUALIFICATION, QUALIFYING RATIOS, BIWEEKLY MORTGAGE, WHOLESALE LENDER, BALLOON MORTGAGE, SETTLEMENT COSTS, CONTRACT KNAVERY, NEGATIVE POINTS, SECOND MORTGAGE, MORTGAGE SCAMS, INTEREST RATE, WAIVE ESCROWS, CASH-OUT REFI, UNDERWRITING, LOAN AMOUNT, BRIDGE LOAN, FORECLOSURE, APPLICATION, PREPAYMENT, FLOAT-DOWN, REFINANCE, APPRAISER, APPROVAL, INVESTOR, CHURNING, LENDER, FLOAT, LIEN, LOCK, APR

    Courtesy of the Mortgage Glossary
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