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Underwriting - Detailed process of evaluating a borrower's loan application to determine the risk involved for the lender. Underwriting usually involves an in-depth analysis of the borrower's credit history, as well as an examination of the value and quality of the subject property.

Underwriting Fee - A fee charged by some lenders to cover the cost of the lender's analysis of the risk associated with a loan. An underwriting fee is considered to be a lender fee.

Undivided Interest - An ownership right to use and occupy property that is shared among more than one owner. No single co-owner may have exclusive rights or possession to any part of the property.

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