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UNB Financial Glossary

What is it? Unbundle

Finance Term Definition Added By: Morgan

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Financial Term Sum insured is The amount an insurance policy pays out.

Financial Term FNMA Fannie Mae Federal National Mortgage Association. is A publicly owned corporation sponsored by the federal government that provides liquidity in the mortgage market. It buys mortgages from mortgage underwriters financed by issuing bonds.

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Financial Term First mortgage is A mortgage having priority over all other voluntary liens against the property. A first mortgage gives the lender a first claim against the owners rights in the property if the owner fails to meet the required payments on the mortgage.