Processing
Definition
Compiling and maintaining the file of information about a mortgage transaction, including the credit report, appraisal, verification of employment and assets, and so on. The processing file is handed off to underwriting for the loan decision.
Related Terms Other terms related to 'Processing' starting with the letter 'P' Prepayment penalty, Property flipping, Pipeline risk, Price gouging, Primary residence Browse by Letter » 1 4 A B C D E F G H I J L M N O P Q R S T U V W Y | 