Co-Borrower:
A party who signs the mortgage note along with the primary borrower, and who also shares title to the subject real estate.
Collateral:
Property pledged as security for a debt. For example, real estate that secures a mortgage. Collateral can be repossessed if the loan is not repaid.
Combined Loan To Value (CLTV):
The mathematical relationship between the total of all loan amounts (first mortgage plus subordinate liens) and the value of the subject property.