[ mawr-gij ]
literally ‘death pledge’, from mort (from Latin mortuus ‘dead’) + gage ‘pledge’.
Hi, I’m Marc! Your anti-jargon mortgage expert. I look forward to helping you understand this crazy world of home loans.
Marc Erickson Waving Ready To Help You Learn About Mortgages

Who Am I?

Marc's journey into the mortgage realm began back in 2012 during the HARP refinance frenzy. Starting as a Loan Processor, he quickly learned the importance of efficiency and precision, as the underwriting standards were exceptionally strict. This knowledge was carried along into Loan Origination when Marc obtained his license in 2014. Fast-forward to 2019, and Marc decided to become a Mortgage Broker and start his own 3rd Party Processing Company, Top-Shelf Processing. His primary focus is now educating clients on mortgage loans, while providing the highest level of service and expertise.

Marc Erickson Ready To Teach You About Mortgage Loans Rates and TermsMarc Erickson Enjoying Kayaking While He was a mortgage rate specialist in Fort Collins ColoradoMarc Erickson Playing Hockey As a Child Before He was a mortgage rate specialist in Fort Collins Colorado

Acronyms & Definitions


Equity is the amount your property is currently worth minus the amount of any existing mortgage on your property

Credit Report

A credit history is a record of a borrower's responsible repayment of debts

Co-signer or co-borrower

A second applicant for the loan

LOX- Letter of Explanation

A Internal document provided to a lender by the borrower to explain information provided on the application in more detail.

Solar Lien / UCC-1 Filing

A legal form that a creditor files to give notice that it has or may have an interest in the personal property of a debtor. Usually NOT against the Real Estate itself, but the property affixed to the home. i.e. Solar Panels will have a UCC-1 Filing against the Panels and Equipment, NOT the home.

Contractors / Mechanic’s Lien

A security interest in the title to property for the benefit of those who have supplied labor or materials that improve the property. Often used when work is completed, and Contractor is not paid in full by the homeowner.

Right of Rescission

On Owner Occupied Mortgage Refinance transactions. The borrowers are provided 3 business days after closing to "cool off" and ensure the refinance is in their best interest. Otherwise, they can rescind the transaction within the timeframe.

Purchase Agreement / Contract for Sale

An agreement between a buyer and seller of Real Estate

Loan Term

The length of a mortgage loan


A Lienholder's agreement to retain their position once a primary lien is paid off via a refinance.

Promissory Note

The terms of the Agreement stated above. Rate and Term (15, 20, 30 years) are expressed and publically recorded

VOE - Verification of Employment VVOE and WVOE

A internal verification obtained by a lender to ensure the employment and income provided by a borrower is consistent and that they actively are recieving it

The Latest News

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Gary Being Gary

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I'd love to answer any questions you may have, go over some of the latest news in mortgage rates, or expand even further into these terms and definitions.

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