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VERIFICATION OF EMPLOYMENT (VOE) Document signed by the borrower's employer verifying the borrower's position and salary. RENTAL POOL A rental arrangement whereby participating owners of rental apartments agree to have their apartment units available for rental as determined by the rental agent, and then share in the profits and losses of all the rental apartments in the pool according to an agreed formula. LANDMARK A stake, stream, cliff, monument or other object or feature which is used to fix or define land boundaries; also a prominent feature of a landscape or property that is the symbol for the place. BLANKET MORTGAGE A mortgage which is secured by several structures or a number of lots. A blanket mortgage is often used to finance proposed subdivisions or development projects, especially cooperatives. CASHIER'S CHECK (OR BANK CHECK) A check whose payment is guaranteed because it was paid for in advance and is drawn on the bank's account instead of the customer's. |
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