Unclassified loanAn unclassified loan is a bank loan that the lender considers to be at high risk of default.
UnderwritingUnderwriting is the process that banks and other financial institutions use to assess the creditworthiness or risk of a potential borrower.
Uniform Gift to Minors ActThe Uniform Gift to Minors Act (UGMA) comprises state laws in the United States that permit the gifting of securities and money to minors.
Uniform Transfers to Minors ActThe Uniform Transfers to Minors Act (UTMA) is an extension of the Uniform Gifts to Minors Act (UGMA) that lets individuals give(...)
Universal defaultUniversal default is a policy of some lenders that allows them to penalize borrowers who pay any creditor late, resulting in a drop in(...)
Unsecured debtUnsecured debt or an unsecured loan refers to a loan not backed by collateral.
Unsecured loanUnsecured loans are loans that don’t require collateral to be approved for the loan. The lender will check your creditworthiness and(...)
UpgradesUpgrades are optional features that buyers of newly built houses can select for more money.
Upside downUpside down describes the situation when you buy something on credit and now owe more for it than it is worth.
USDAUSDA loans are zero-down-payment mortgages for rural and suburban homebuyers.
UsuryUsury is the term used when someone charges more than the maximum interest rate allowed by law. State laws govern legally allowed(...)
Utility EasementAn easement that allows a utility the right to use and access specific areas of another's property for laying gas, electric, water,(...)
Utility ReportA home utility report (HUR) is a report that’s compiled and emailed or sent to customers from their energy provider detailing home(...)
