Transmittal Summary One page document that summarizes the main features as the loan

application.

Purchase Contract legally binding agreement detailing the sale of property

addendum Document attached to and made part of the purchase agreement providing
additional information, explanations or indicating other requirements of the parties that were not
spelled out in the contract.

Revolving Account Charge account with a variable payment

Installment Account a time-payment plan that allows for payment over a period of time

Omitted Accounts Accounts that are excluded from debt to income ratio because the balance
has less than 10 mos. owing

Authorized User able to use the credit card account but is not legally liable for the balance
due on the account

Disputed Tradeline Credit Account listed on the credit report that has erroneous information.

Flood Zone land areas identified by FEMA that are potential risk for flooding

Appraisal Report process of developing an opinion of value for real property.

Condo Questionaire tool used to determine condo project eligibility

Fraud Guard Report Detects Fraud based on historical patterns of legitimate loans.

4506-TRequest for Transcript of Tax Return

Title Report A report issued after a title search by a title insurance company, listing all defects
and encumbrances of record

Homeowners Insurance Protects against most types of property losses and liabilities related
to home ownership

Replacement Cost Coverage the company will pay the amount needed to replace property
destroyed

Actual Cash Value the payment you receive is based on the replacement cost of an item minus
depreciation

Mortgage pay off the amount needed to satisfy the terms of a mortgage loan.