The Commercial Loan Advisor

Loan Terms Glossary

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Term

Definition

Negative Amortization

Occurs when interest accrued during a payment period is greater that the scheduled payment and the excess amount is added to the outstanding loan balance.

Net Operating Income (NOI):

Total income less operating expenses, adjustments, etc., but before mortgage payments, tenant improvements and leasing commissions.

Non - Recourse

A mortgage or deed of trust securing a note without recourse allows the lender to look only to the security (property) for repayment in the event of default, and not personally to the borrower.

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