- Tab 1A-D
- Tab 2E-H
- Tab 3I-L
- Tab 4M-P
- Tab 5Q-T
- Tab 6U-Z
Electronic Funds Transfer (EFT) - Type of transaction which allows transfers from one account to another account electronically. Types of EFTs include wire transfers, direct deposits, and direct deposits.
Electronic Statements and Notices (e-Statements and e-Notices) - Electronic version of account statements and notices.
Equity - The value of ownership built up in a home or property as the borrower pays down a loan. This amount is calculated by taking the current value of the home or property minus the amount the borrower still owes.
For example; if a home is worth (and appraised for) $100,000, and the borrower owes $60,000, they have $40,000 in equity in their home.
Loan to Value (LTV) - Ratio that measures the relationship between the loan amount and the market value of the asset securing the loan, such as a house or car.
For example; if a home is worth (and appraised for) $100,000 and a borrower takes a mortgage out for $80,000, their LTV is 80%.
Title - Formal document to prove ownership of items such as property or vehicles.
Title Searches - Process of researching and finding historical documents to prove a clean title and legal ownership.
Title Insurance - Type of insurance meant to protect an owner from financial loss and legal expenses if a title is found to be defective.