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

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