Margin
The amount the lender adds to the index to determine the Fully Indexed Rate. Usually the margin is a fixed percentage throughout the loan. (Also called "Spread.")

Mortgage
A legal document that pledges a property to the lender as a security for payment of a debt.

Mortgage Banker
A company that originates mortgages exclusively for resale in the secondary market.

Mortgage Broker
A company that originates mortgages exclusively for resale in the secondary market.

Mortgage Insurance
See Private Mortgage Insurance.

Mortgage Insurance Premium (MIP)
The fee paid to FHA or a private insurer for mortgage insurance.

Mortgagee
The lender in a mortgage agreement.

Mortgagor
The borrower in a mortgage agreement.