Real Estate Glossary: Terms starting with letter 'U'
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Underwriting: The process of evaluating a loan application to determine the
risk involved for the lender. Underwriting involves an analysis of the borrower's
creditworthiness and the quality of the property itself.
Unrelated business income (UBI): Earnings from trade or business activities
that are regularly carried on and not substantially related to the tax-exempt purpose
of a tax-exempt organization. These activities may be taxed since they are outside
the scope of the tax-exempt part of the business.
Unsecured loan: A loan that is not backed by collateral.