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

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