Dictionary

In good faith, without fraud.

An interest-bearing certificate of debt with a maturity date. An obligation of a government or business corporation.  A real estate bond is a written obligation usually secured by a mortgage or a deed of trust.

An obligation of the insurance company to protect one against financial loss caused by the acts of others.

Money or property provided to make up a difference in value or equity between two properties in an exchange.

A violation of any legal obligation.

A form of second trust that is collateralized by the borrower’s present home (which is usually for sale) in a manner that allows the proceeds to be used for closing on a new house before the present home is sold. Also known as “swing loan.”

A person who, for a commission or a fee, brings parties together and assists in negotiating contracts between them.  See also mortgage broker.

One who represents an insured in the solicitation, negotiation, or procurement of contracts of insurance, and who may render services incidental to those functions. Brokers may also be licensed as agents.

A Producer who represents an insured in the solicitation, negotiation, or procurement of contracts of insurance. For example, you might represent only one insurer as a Producer. If that insurer declines to write coverage for your client, you might try to “broker” the business elsewhere in an effort to better serve your customer.

A broker’s opinion of value based on a comparative market analysis verses an appraisers opinion of value.