Regulatory and supervisory agency for federally chartered savings institutions.

A fee a prospective buyer pays a lender when applying for a mortgage.

Lowest commercial interest rate charged by a bank on short-term loans to its most credit-worthy customers.

Condition in a mortgage that gives the lender the right to require immediate repayment of the loan balance if regular mortgage payments are not made or for breach of other conditions of the mortgage.

Interest earned but not yet paid.

An interest rate that changes periodically according to an index.

A mortgage with an interest rate that adjusts periodically based on a preselected index, causing interest rates and payments to rise and fall with the market.

The time between changes in the interest rate and monthly payments on an ARM.

One that acts for or represents another.

Also known as a "sales contract," a written document in which a purchaser agrees to buy property under certain given conditions, and the seller agrees to sell under certain given conditions.