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

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