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multiple listing service (mls)

access to houses and other types of property on the market. Source: U.S. Department of Housing and Urban Development

national credit repositories

are Equifax, Experian, and Trans Union, referred to as Credit Bureaus. Source: U.S. Department of Housing and Urban Development

encroachments

structure will be asked to remove it to prevent future problems. Source: U.S. Department of Housing and Urban Development

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merged credit report

data pulled from two or more of the major credit-reporting firms. Source: U.S. Department of Housing and Urban Development

mental deficiency

mental deficiency : failure in intellectual development that is marked by low intelligence or mental retardation and that may result in an inability to function

law merchant

law merchant : the commercial rules developed under English common law that influenced modern commercial law and that are referred to as supplementing rules set

loan officer

also be called lender, loan representative, account executive or loan rep. Source: U.S. Department of Housing and Urban Development

law review

published by a law school or bar association) containing notes and articles analyzing and evaluating subject areas and developments in the law

lease purchase (lease option)

is credited to an account for use as a down payment. Source: U.S. Department of Housing and Urban Development

lender option commitments

loans or securities by a certain date at agreed upon terms. Source: U.S. Department of Housing and Urban Development

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