Mortgage Glossary – Meaning of Negative Amortization Cap

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		Negative Amortization Cap :- The upper most limit of amount that is allowed on an 'Adjustable Rate Mortgage' (ARM); this is usually depicted as a percentage on the original loan amount (Say 120%). When the amount reaches the cap, the monthly mortgage payment is then automatically increased to the fully amortizing payment level, overruling the payment increase cap.

Negative Amortization	No-Asset Loan	Non-Owner-Occupied Property
Negative Amortization Cap	No Cash-out Refinance	Non-Performing Asset
Negative Homeowners Equity	No Change Scenario	Non-Permanent Resident Alien
Negative Points	No Income Loan	Non-warrantable Condominium
Net Branch	No Ratio Loan	No-Surprise ARM
Net Effective Income	No-Cost Mortgage	Note
Net Jumping	Nominal Interest Rate	Note Rate
Niche	Non Assumption Clause	Notional Principal Amount
Nichification	Non-conforming Mortgage


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