Underwriting
The process of evaluating a loan application, borrower, collateral and program requirements.
HELOC EXPERT GLOSSARY
Glossary: U
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U
Terms Starting with U
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Undrawn Line
The unused portion of an approved revolving credit limit.
Unit Mix
The composition of units in a multifamily property, such as studios, one-bedroom and two-bedroom units.
Unpaid Principal Balance (UPB)
The amount of loan principal still outstanding, excluding future interest and certain fees.