Glossary

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Underwriter
The individual who evaluate a loan application to determine the risk involved for the lender.

Underwriting
The process of evaluating a loan application to determine the risk involved for the lender. Underwriting involves an analysis of the borrower's creditworthiness and the quality of the property itself.

Underwriting Fee
A fee charged by some lenders to cover the cost of the lender's analysis of the risk associated with a loan. Underwriting fee is considered to be a lender fee.

Unsecured Loan
A loan that is not backed by collateral.