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Loan Origination

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Loan origination is the process during which a borrower submits a loan application and a financial institution or lender processes that application. There is usually an origination fee associated with this process.

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Loan Servicer

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A mortgage servicer manages the daily administrative work around a loan, including processing loan payments, responding to borrower inquiries, and tracking principal and interest paid.

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Loan Servicing

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Loan servicing is a term for the administrative aspects of maintaining your loan, from the dispersal of the loan to the time it’s paid in full. Loan servicing includes sending the borrower monthly statements, maintaining payment and balance records, and paying taxes and insurance.

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Median Days on Market

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The number of days between the date the home was listed for sale and when the home went pending or off-market. Includes all listings that went pending or off-market within a given time period, where 50% of the homes were on the market longer and 50% went off the market faster.

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Median List Price per Square Foot

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A midpoint value expressed as the most recent listing price divided by the total above-ground square footage of the property (not the lot). This metric includes all homes within a given time period, where 50% of the active listings were above this price per square foot and 50% were below this price per square foot.

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