U

Umbrella Liability
Coverage Supplemental liability insurance, providing increased protection against lawsuits or other losses for which you are legally responsible.

Underwriting
The process of verifying data and approving a loan. In mortgage lending, the process of approving or denying a loan based on an evaluation of the property and the applicant's creditworthiness and ability to repay the loan. The underwriter analyzes all the information provided and determines the risks involved.

Unearned Income
Income derived from investments and other sources not related to employment.

Unencumbered
Free of liens and other encumbrances. Free and clear.

Unmarketable Title
Not saleable. A title which has serious defects.

Unrecorded Deed
A document that transfers title from the grantor to the grantee without recording( e.g. providing public notice).

Unsecured Debt
Debt, such as most credit cards, that is not secured with collateral.

Unsecured Loan
A loan based on your promise to pay without savings or other collateral as a guarantee; sometimes called a signature loan.