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Trusted expertise, quality, excellence and integrity lay at the cornerstones of PMBC. As such, we are committed to providing nothing short of prompt, responsive, personalized attention to your home financing needs. At PMBC, you will find that each member of our team is devoted to being accessible, attentive and caring to your mortgage needs no matter what your situation may be.
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Professional Mortgage Bankers Corp.
Corporate Headquarters
400 Post Avenue, Suite 410
Westbury, New York 11590
Tel: 516.333.7800
Fax: 516.333.8004
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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
Sale-Leaseback: technique in which a seller deeds property to a buyer for a consideration, and the buyer simultaneously leases the property back to the seller.
Secondary Mortgage Market: buying and selling of existing mortgages.
Second Mortgage: mortgage that has a lien position subordinate to the first mortgage.
Secured Loan: loan that is backed by collateral.
Security: a piece of property designated as collateral.
Seller Take-Back: agreement in which the owner of a property provides financing, often in combination with an assumable mortgage.
Seller Versus Buyer Closing Costs: when buyers and sellers negotiate who will pay certain closing costs.
Servicer: company that collects and processes mortgage payments and manages borrowers’ escrow accounts.
Servicing: collection of mortgage payments from borrowers and related responsibilities of a loan servicer.
Single-Family Properties: one- to four-unit properties including detached homes, townhomes, condominiums, and cooperatives.
Special Assessment: special tax imposed on property for road construction, sidewalks, sewers, street lights, or other municipal needs.
Special Deposit Account: account that is established for rehabilitation mortgages to hold the funds needed for the rehabilitation work so they can be disbursed from time to time as particular portions of the work are completed.
Special Forbearance: a loss mitigation option where the lender arranges a revised repayment plan for the borrower that may include a temporary reduction or suspension of monthly loan payments.
Standard Payment Calculation: method used to determine the monthly payment required to repay the remaining balance of a mortgage in substantially equal installments over the remaining term of the mortgage at the current interest rate.
Subdivision: housing development that is created by dividing a tract of land into individual lots for sale or lease.
Subordinate Financing: mortgage or other lien that has a priority that is lower than that of the first mortgage.
Survey: map made by a surveyor with the purpose of measuring land with elevations, boundaries, improvements, and its relationship to surrounding tracts of land.
Sweat Equity: contribution to the construction or rehabilitation of a property in the form of labor or services rather than cash.
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