Mortgage - The pledge of a property to the lender as security for payment of a debt.

Mortgage Broker - A company that matches borrower with lenders for a fee.

Mortgage Insurance Premium (MIP) - The fee paid by a borrower for mortgage insurance. Fees are generally paid to the FHA or private insurer.

Mortgagee – The person to whom property is mortgaged, or to whom a mortgage is made or given.

Mortgagor – The person who give a mortgage for money to be repaid.