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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. At the end of this learning activity, the learner will be able to identify common underwriting terminology.
Keywords: , , , , , , online teaching

Content:
Definitions:
0. 10%25 loader
1. 15%25 loader
2. 6%25 loader
3. Approved status
4. API
5. LVR
6. In_Progress status
7. Premium
8. Variation
9. Servicability
10. NDI
11. In_force status
12. Cancelled status
13. 3%25 loader
14. 5%25 loader
15. 20%25 discount

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