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Real Estate Dictionary

Real Estate Dictionary

What Does a Title Insurance Underwriter Do?

A Title Insurance Underwriter reviews title searches, assesses risk, and issues insurance policies that protect buyers and lenders from potential legal issues with property ownership.

March 28, 2025

Overview: Federal Emergency Management Agency (FEMA) Standard Flood Hazard Determination Form (SFHDF)

The FEMA Standard Flood Hazard Determination Form (SFHDF) is a required document used by lenders to determine whether a property is in a high-risk flood zone and if flood insurance is mandatory.

March 28, 2025

What is the TILA-RESPA Integrated Disclosure (TRID) Rule?

The TILA-RESPA Integrated Disclosure (TRID) Rule, issued by the CFPB, combines and simplifies mortgage loan disclosures to help consumers better understand loan terms and closing costs by requiring standardized Loan Estimate and Closing Disclosure forms.

March 28, 2025

What is a Home Equity Conversion Mortgage?

A Home Equity Conversion Mortgage (HECM) is a government-insured reverse mortgage that lets homeowners aged 62 or older convert home equity into tax-free cash without monthly payments, with repayment deferred until they move out, sell, or pass away.

March 28, 2025

What is Encroachment in Real Estate?

In real estate, Encroachment is when a structure or improvement—like a fence, driveway, or building—extends onto another person's property without permission, potentially leading to legal disputes or title issues.

March 28, 2025

What is a Common Interest Community (CIC) in Real Estate?

A Common Interest Community (CIC) in real estate is a residential development where homeowners share ownership of common areas—like pools, parks, or hallways—and are typically governed by a homeowners association (HOA) that enforces rules and collects dues for maintenance.

March 28, 2025

What Does "Changed Circumstance" Mean in Real Estate Lending?

A "changed circumstance" in real estate lending is a significant event or discovery that justifies a lender revising the loan estimate or disclosing new fees.

March 28, 2025

How Do Air Rights Work in Real Estate?

Air rights in real estate are the legal ability to use or sell the space above a property, often enabling taller construction or allowing developers to transfer unused development potential to nearby buildings, especially in urban areas.

March 28, 2025

What is Unlevered Free Cash Flow (UFCF)?

The Unlevered Free Cash Flow (UFCF) formula calculates the cash flow available to all investors (both debt and equity holders) before accounting for interest payments and debt obligations. It is used to assess a company’s financial health and valuation, particularly in Discounted Cash Flow (DCF) analysis.

March 7, 2025

What is Reinvestment Risk and How Does it Apply to Real Estate?

Reinvestment risk in real estate occurs when investors must reinvest proceeds from property sales, loan repayments, or rental income at lower returns due to changing market conditions, which can be mitigated through diversification, strategic financing, and value-add opportunities.

March 7, 2025
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