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

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