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Underwriting: The risk analysis of the borrowers, guarantors, and the collateral in a real estate transaction. Many variables are considered such as: creditworthiness, income, assets, and employment history before the lender can offer a specific interest rate and term to the borrower.

Uniform Residential Appraisal Report (URAR): The most common type of appraisal in the residential market which defines what methods were used to determine the value of the property.

Usury: Charging an amount of interest that is more than what is allowed by law.