NONCONFORMING MORTGAGE
\nˌɒnkənfˈɔːmɪŋ mˈɔːɡɪd͡ʒ], \nˌɒnkənfˈɔːmɪŋ mˈɔːɡɪdʒ], \n_ˌɒ_n_k_ə_n_f_ˈɔː_m_ɪ_ŋ m_ˈɔː_ɡ_ɪ_dʒ]\
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The ineligibility to sell this particular type of mortgage due to a failure to meet specific standards or requirements. These requirements are usually in the form of a credit check, collateral, maximum loan amount and other such factors.
By Henry Campbell Black
Word of the day
Snake's-head
- Guinea-hen flower; -- so called in England because its spotted petals resemble the scales of a snake's head.