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

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