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

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