Hazard Insurance
A form of insurance in which the insurance company protects the insured from certain losses, such as fire, vandalism, storms and certain other natural causes.

High Ratio Mortgage
A maximum mortgage available under a given program.

Housing Ratio
The total monthly mortgage payment including property taxes, insurance and mortgage insurance expressed as a percentage of monthly gross income.  The ratio of the monthly housing payment to total gross monthly income. Also called Payment-to-Income Ratio or Front-End Ratio.

HUD
Department of Housing and Urban Development-It is responsible for the implementation and administration of government housing and urban development programs. The broad range of programs includes community planning and development, housing production and home loans (FHA), equal opportunity in housing, research and technology.     [TOP]

Improvements
All the buildings, structures and improvements of every kind and description now or hereafter erected or placed on the real property that is part of the Mortgaged Property, and all facilities, fixtures, machinery, apparatus, appliances, installations and equipment, including all building materials to be incorporated into such buildings, all electrical equipment necessary for the operation of such buildings, and heating, air conditioning and plumbing equipment now or hereafter attached to, located in or used in connection with those buildings, structures and other improvements.     [TOP]

Index
A published interest rate not controlled by the lender to which the interest rate on an Adjustable Rate Mortgage (ARM) is tied. The index and the interest rate linked to it may increase or decrease.Liabilities. Debts
What a person owes, i.e., credit card, loans, mortgages.

• Symbol	Description
  1YTB	One Year Treasury Bill Yield
  3YTB	Three Year Treasury Note Yield
  5YTB	Five Year Treasury Note Yield
  10YTB	Ten Year Treasury Bond Yield
  30YTB	Thirty Year Treasury Bond Yield
  6mTB	Six Month Treasury Bill Yield
  6mCD	Six Month CD Rate
  6mLIB	Six Month LIBOR
  1LIB	One Year LIBOR
  11Di	11th District Cost-of-Funds Rate
  Prim	Prime Interest Rate

  All index values include an index name plus a margin as in "1TYB+2.75" which means a 2.75% margin above the One Year Treasury Bill Yield.

Initial Escrow Account Disclosure Statement
The statement required by Applicable Requirements to be submitted to a Mortgagor after a servicer has established an escrow account in connection with a Mortgagor Loan to such Mortgagor.

Insurer
Any primary mortgage insurer or provider of hazard insurance, flood insurance, Title or other insurance with respect to a loan or mortgaged property.

Interest Rate
The percentage of an amount of money which is paid for its use for a specified time.

Investment Property
A 1- to 4-unit property not occupied by the borrower. This definition is used whether or not the property produces revenue. Loans to corporations and general partnerships are considered secured by investment property. Also known as non-owner-occupied property.      [TOP]