VOM >> Acronym for Verification of Mortgage.

VOR >> Acronym for Verification of Rent.

W-2 >> A document that reports to the Federal government income earned by salaried employees. This document reports employees’ total gross and withholdings made during the previous tax year. Employers must mail W-2s by January 31 of each year for the prior tax year.

WARRANTY DEED >> A deed used in many states to convey fee title to real property. A deed in which the grantor or seller warrants or guarantees good title is being conveyed as opposed to a quitclaim deed that contains no representation or warranty as to the quality of title being conveyed.

WHOLESALE LENDER >> A lender who works only with mortgage brokers and takes completed loan packages and underwrites them. They offer mortgage brokers discounted pricing in return for the up-front work done by the mortgage broker.

WITHHOLD >> Portion of a loan held back by the lender until a condition is satisfied or met. Usually regarding the appraisal and repairs to be made to the property which secures the loan.

ZONING >> The division of a city or county by legislative regulations into areas specifying the permitted uses allowable for the real property in these areas.