Mortgage Glossary
- Waiver
- The voluntary abandonment or surrender of some claim, right, or privilege.
- Warehousing
- The packaging together of many mortgages for the purpose of selling them in the secondary market, usually by a mortgage banker who has originated the loans.
- Warranty
- A promise contained in a contract.
- Water Table
- Usually defined as the upper-most level at which underground water is normally encountered in a particular area.
- Wire Transfer Fee
- Wraparound Loan
- A loan that includes the remaining balance on an underlying first loan. Instead of having separate first and second mortgages, a wraparound loan has both.