MARGIN >> A constant number, set in the terms of the note, added to an rate index to compute the interest rate on an adjustable-rate mortgage. This fixed number is added to an index to determine the new interest rate when a new change period begins.

MARKET VALUE >> The highest price a buyer would pay and the lowest price a seller would accept on a property. Market value may be different from the price a property could actually be sold for at a given time.

MARKETABILITY >> The probability of selling property at a specific time, price and terms.

MECHANICS LIEN >> A lien created by state law for debts owed to a carpenter, contractor, plumber or other entity hired by the property?s titleholder for services performed or materials provided to repair or improve the property.

MERGED CREDIT PROFILE (MPR) >> A report combining credit information from as many as 3 different credit bureaus.

MIXED-USE PROPERTY >> A property in which a portion is used for commercial or retail purposes and the other portion is used for residential purposes. A property can also be considered mixed use if different combinations of uses are present such as commercial/industrial or residential/industrial. For example, a multi-unit dwelling with the front unit used as a commercial store and the back unit used as a dwelling.

MODIFICATION AGREEMENT >> In the mortgage lending industry, a written directive to the title company to correct a typographical error on instructions to title.