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

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