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Glossary of Notary Public, Mortgage, Signing Agent, and Loan Signing Terms.

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Common Terms 1   Common Terms 2

L.S. (Locus Sigilli)

L.S. ( Locus Sigilli ) Latin, "The location where the seal is placed." Used generally to indicate the place for the notary's seal. Every notary certificate has an L.S. area for the notary seal.


The bank, credit card company, mortgage company, or mortgage broker offering a loan. Any person or entity that loans money to another individual or entity.


An encumbrance against property for money due which could be either voluntary or involuntary. The order of liens against a property are documented in the subordination agreement if there are multiple liens.

Limited Power of Attorney

If you are looking for the commonly notarized document in many loan packages, please refer to the correction agreement limited power of attorney. A limited power of attorney is a power of attorney that specalizes in one type...


A loan is a contract where a borrower agrees to borrower a certain amount of money from a lender at a specified interest rate, or...

Loan Application

Please see, "Universal Residential Loan Application." A loan application is a document where a prospective borrower applies for a loan. The application asks for a lot of information about the borrower's...

Loan Document Signer

See, "Signing Agent" A loan document signer is another name for a signing agent. Loan document signers typically go from home to home to assist borrowers in signing their loans. The loan document signer is responsible...

Loan Modification

A type of loan program set up to lower a borrower's monthly payments when the borrower is under financial hardship and/or is delinquent or soon to be delinquent on their payments.

Loan Origination Fee

A fee charged by a loan broker or Title company to originate a loan. This fee is documented on the Settlement Statement and other documents that list all fees applicable for the loan.

Loan To Value Ratio

The relationship between the amount of a loan and the appraised value of the property expressed as a percentage. Another definition of a loan to value ratio is the ratio of the first...

Lock Period

An amount of time that a lender will guarantee a loan's interest rate. Once you've locked in the interest rate on a loan, the lender will guarantee that rate for a certain period of time which typically is for 30, 45 or 60...


A written agreement guaranteeing the home buyer a specified interest rate provided the loan is closed within a set period of time. The lock-in usually specifies the number of points to be paid at closing as well.