| A | B |
|---|
| Foreclosure | 120 days past due |
| CFPB | Consumer Financial Protection Bureau |
| Workout Options | Repayment, Reinstatement, Modification |
| HELOC | Home Equity Line of Credit |
| Lender Paid Expenses | Corporate Advance |
| Per Diem | Daily Interest on Loan |
| Refinance | Allows you to change the term of the loans |
| SF | Source of Funds |
| 1098 | IRS form used to report interest |
| AUTH & 3PRT | Codes used to record authorization for 3rd party |
| DSI | Daily Simple Interest |
| Escrow, P&I, and Interest Rate | Items that could cause a payment change |
| Release of Lien | Satisfied |
| Draw Period | Withdraw funds from line of credit |
| Bankruptcy | Process in which consumers and businesses can eliminate or repay debt |
| Typical down payment | 5%-20% |
| Escrow Shortage | Negative difference between the escrow balance and minimum required balance |
