Margin - in the HECM program, the amount added to the one-year Treasury rate to determine the initial and current interest rates, and to the 10-year Treasury rate to determine the expected interest rate.

Maturity - when a loan must be repaid; when it becomes "due and payable".

Mortgage - a legal document that pledges a property to a lender as security for repayment of a debt.

Mortgage Banker - a company that originates mortgages exclusively for resale in the secondary mortgage market.

Mortgage Broker - an individual or company that brings borrowers and lenders together for the purpose of loan origination.

Mortgagor - the borrower in a mortgage agreement.