Real Estate Glossary

Underwriter:

The individual(s) employed by the lender or a third-party service provider who evaluates a loan application to determine the risk involved for the lender.



Underwriting:

The process of evaluating a loan application to determine the risk involved for the lender. Underwriting involves an analysis of the borrower's creditworthiness and the quality of the asset to be lent against.



Undisclosed bankruptcy:

A bankruptcy case that was pending during the foreclosure period that involved debtors who were party to the foreclosure. Because the automatic stay may have been in effect during the time, this may invalidate certain foreclosure proceedings and cause a delay in the foreclosure sale process.



Unsecured loan:

A loan that is not backed or secured by collateral.


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