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Warehouse Fee
Charge added to the closing costs of a mortgage loan for a mortgage company that borrows money to immediately fund an approved loan applicant.
RELATED MORTGAGE TERMS: Closing Costs
Warehouse Line
In terms of a mortgage loan it is the funds held by a lender for funding approved loans while they are being processed by the actual funding mortgage company.
Wholesale Lender
Mortgage loan lender that only accepts loan applications from mortgage brokers and not the general public. Such mortgage lenders offer loan programs at a discounted price to mortgage brokers that provided them with completed loan applications with all the documentation requirements met.
RELATED MORTGAGE TERMS: Documentation Requirements|Mortgage Broker
MORTGAGE LOAN EXAMPLES: Wholesale Lender
Wire Transfer Fee
Charge added to the closing costs of a mortgage loan for transmitting funds from the loan funding source to the borrower or other entities during the loan application and approval process.
RELATED MORTGAGE TERMS: Closing Costs
MORTGAGE LOAN EXAMPLES: Wire Transfer Fee
Worst Case Scenario
In terms of a mortgage loan, it is a quoted loan program that assumes the highest possible interest rate for the entire life of the loan to calculate the cost for a loan that an applicant may pay.
Wraparound Mortgage
Refinance mortgage loan program that borrows an amount which combines all current mortgage loans for a single property into one loan, but does not actually pay off the original loan lender. Instead, the new mortgage company forwards all payments for any existing loans to their appropiate payment reception center, which allows the borrower to only make one monthly payment to a mortgage company.
MORTGAGE LOAN EXAMPLES: Wraparound Mortgage Loan

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