A mortgage originator is an institution or individual that works with a borrower to complete a home loan transaction.

The loan processor is responsible for preparing and organizing the file and getting it over to the bank or mortgage lender for approval.

Underwriting is the process through which an individual or institution takes on financial risk for a fee.

Title insurance is a contractual obligation that protects against losses that occur when title to a property is not free and clear of defects (e.g. liens, encumbrances and defects that were unknown when the title policy was issued).

The closing of a transaction through a third party called an escrow agent, or escrowee, who receives certain funds and documents to be delivered on the performance of certain conditions in the escrow agreement.

One who is trained and educated in the methods of determining the value of property through analysis of various factors which determine said value.

A public official authorized to certify and attest to documents, take affidavits, take acknowledgments, administer oaths, and perform other such acts.

The person who transfers property by sale.

A person who is buying Real Estate.

A Real estate agent obtaining a listing.

The real estate agent obtaining the buyer rather than listing the property. The listing and selling agent may be the same person or company.

A private company goes through the property being sold and writes a report detailing any structural and/or mechanical problems. If the inspection is a condition of purchase, the buyer may then cancel the purchase or offer a lower amount if defects are found.

An inspection required in certain types of sales of property, to determine if termites are present within a building.

A roofing inspection is a visual examination of the condition of your roof. It is essential to get a roofing inspection if you suspect that there may be a problem with your roof. The roof inspector will look for red flags indicating your roof is in trouble.

A mortgage lender is a bank or company that provides home loans to borrowers. A mortgage lender provides you with the funds to buy your home. Every month you make payments that go towards paying off your loan balance.

Private mortgage insurance (PMI) is a type of mortgage insurance you might be required to buy if you take out a conventional loan with a down payment of less than 20 percent of the purchase price. PMI protects the lender—not you—if you stop making payments on your loan.CFPB

Mortgage insurance protects the lender if you fall behind on your payments. Mortgage insurance is typically required if your down payment is less than 20 percent of the property value. Mortgage insurance also is typically required on FHA and USDA loans. If you are required to pay mortgage insurance, it will be included in your total monthly payment that you make to your lender, your costs at closing, or both.