Statement Of Reasons at Real Estate Glossary

What is it? The Federal Equal Credit Opportunity Act (ECOA) (Title VII of the Consumer Protection Act) requires that a lender/creditor who denies an application for credit must provide the applicant with a statement of reasons, or written notification of the applican

Real Estate Definition Added By: Isabella

Send To Friends!

If you'd like to send the Statement Of Reasons definition to yourself or to your friends/colleagues, just enter the e-mail addresses in the boxes below -

We hope you now understand the meaning of Statement Of Reasons. If you need any more information on this term, please don't hesitate to contact us.

Other Similar Real Estate Terms:

Real Estate Term Tenancy For Years is A tenancy for a definite period of time. The tenant must vacate the property at the end of the lease unless an extension or new lease has been agreed upon.

Real Estate Term Cash-out refinance is The refinancing of a mortgage in which the money received from the new loan is greater than the amount due on the old loan. The borrower can use the extra funds in any manner.

Real Estate Term Retainer is Retainer is a professional relationship between an advisor and a client in which a client engages the services of a professional through payment of a fee. The professionals obligation is to provide advice or services as needed by the client.

Real Estate Term Participation Certificates is Certificates issued by Freddie Mac backed by pools of mortgages.

Real Estate Term Grantee is The person who receives a conveyance of real property from a grantor. The grantee must be a person, either natural or otherwise (e.g. corporation, public agency, partnership, etc.) existing at the time of the conveyance and is capable of taking title.