GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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50% - Moderately

Lender


Synonyms:backer, financial backer, lending institution, loan company, moneylender
Filed Under: financial-banking, mortgages
Tags: banking, mortgage
 

Definition of lender

lender
1. A financial institution, such as a bank, or a mortgage company that offers and provides loans.

Related Terms and Acronyms:

  • conventional mortgage   A mortgage that is not insured or guaranteed by CMHC or GE Capital.
  • interest rate (IR)   The rate a lender charges an individual to borrow money.
  • mortgage (mtg)   A mortgage is a contract stipulating a specific real property, typically a residence or building, as collateral for a loan. The mortgage incurs a rate of interest that varies according to term and other features.
  • mortgage banker   An employee of a large bank who finds financing for the general public.
  • Mortgage Broker (MB)   One who finds clients perspective lenders at generally no cost. Mortgage Brokers have a special relationship with lenders and can offer their clients the best rates and service. CanEquity goes through great lengths to ensure you are serviced by the best Mortgage Brokers in Canada.
  • Mortgage Broker/Lender (MBL)
  • mortgage lender (ML)   A lender that offers mortgages, often through a mortgage broker.
      ➥  Used internally by mortgage brokers and mortgage lenders.
  • mortgagee   The lender in a mortgage transaction.
  • non-recourse debt   A loan secured by collateral where the borrower is not personally liable.
  • prime lending rate (PLR)   The rate of interest charged on loans by chartered banks to their most creditworthy customers.
      ➥  Bank of Canada's prime (best) lending rate.

More Related Terms and Acronyms

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