Term M

Margin:

The difference between the interest rate and the index on an adjustable rate mortgage is called Margin. This remains stable over the life of the loan. It is the index that moves up and down.

Maturity:

The principal balance of a loan, bond, or other financial instrument becomes due and payable on a specific date. That date is known as Maturity.

Merged credit report:

This is a kind of credit report that reports the raw data pulled from two or more of the major credit repositories.

Modification:

Sometimes, a lender agrees to modify the terms of the mortgage without requiring you t refinance. If any changes are made in it, then it is called a modification.