GLOSSARY

This glossary is Alphabetical please choose your letter below.

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

 

v

VA
Department of Veterans Affairs: a federal agency which guarantees loans made to veterans; similar to mortgage insurance, a loan guarantee protects lenders against loss that may result from a borrower default.

 

Variable Rate Mortgage
See Adjustable Rate Mortgage

 

Verification of Deposit (VOD)
A document signed by the borrower's financial institution verifying the status and balance of his or her financial accounts.

 

Verification of Employment (VOE)
A document signed by the borrower's employer verifying his or her position and salary.