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

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