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Underwriting terminology

Author: demarco mel
Description: Match the common underwriting terminology to its meaning. You have 5 minutes to complete this activity.
Keywords: , , , , , , online teaching

Content:
Definitions:
0. Variation
1. In_force status
2. Premium
3. 15%25 loader
4. Approved status
5. 3%25 loader
6. LVR
7. 5%25 loader
8. Cancelled status
9. API
10. NDI
11. In_Progress status
12. 6%25 loader
13. 20%25 discount
14. 10%25 loader
15. Servicability

Answers:
0. Premium has been paid on the policy
1. Australian Property Institute
2. Self employed loader
3. External refinance
4. A policy that has been cancelled
5. The payment allocated for mortgage insurance
6. An approved policy awaiting premium payment
7. Net Disposible Income
8. The capacity to service the loan
9. Investment loan purpose
10. Loan to Value Ratio
11. Loan term between 35-40 years
12. A policy that has not been finalised
13. Staff loans
14. A change made to an existing policy
15. Loan term between 30-35 years
.