![]() ![]() The name derives from the Lloyd's of London insurance market. The person or institution that agrees to sell a minimum number of securities of the company for commission is called the underwriter. An underwriting arrangement may be created in a number of situations including insurance, issue of securities in a public offering, and bank lending, among others. Underwriting: Underwriting services are provided by some large financial institutions, such as banks, or insurance or investment houses, whereby they guarantee payment in case of damage or financial loss and accept the financial risk for liability arising from such guarantee.A mortgage can also be described as "a borrower giving consideration in the form of a collateral for a benefit (loan)". The word mortgage is derived from a Law French term used in Britain in the Middle Ages meaning "death pledge" and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken through foreclosure. This means that a legal mechanism is put into place which allows the lender to take possession and sell the secured property ("foreclosure" or "repossession") to pay off the loan in the event the borrower defaults on the loan or otherwise fails to abide by its terms. The loan is "secured" on the borrower's property through a process known as mortgage origination. Mortgage Loans: A mortgage loan or, simply, mortgage (/ˈmɔːrɡɪdʒ/) is used either by purchasers of real property to raise funds to buy real estate, or alternatively by existing property owners to raise funds for any purpose, while putting a lien on the property being mortgaged.Specify the abilities and skills that a person needs in order to carry out the specified job duties.Įach competency has five to ten behavioral assertions that can be observed,Įach with a corresponding performance level (from one to five) that is required for a particular job. ![]()
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