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Second MortgageA loan that is junior to a primary or first mortgage and often has a higher interest rate and a shorter term.
Secondary MarketA market comprising investors like Freddie Mac and Fannie Mae who buy large numbers of mortgages from the primary lenders and resell them to other investors.
ServicingThe responsibility of collecting monthly mortgage payments and properly crediting them to the principal, taxes and insurance, as well as keeping the borrower informed of any changes in the status of the loan.
Settlement CostsSee also: Closing Costs
Special Appointing AuthoritiesNumerous special appointment authorities are available. Check out our bureaus’ web sites, read the vacancy announcement, or go to for more information.
Status CandidatesA term used by hiring offices to refer to candidates already employed by the Federal government in a competitive service position. 
Student Career Experience Program Appointment A Student Career Experience Appointment refers to appointments where students perform work directly related to their academic field and receive credit for performing such work from an accredited educational institution. It is different than the Student Temporary Employment Program.
Surplus employeesSurplus employees are current career or career conditional competitive employees at the grade level GS-15 or below in a position or occupation identified by the employing agency as "surplus" and therefore face future potential reduction in force separation.
SurveyA physical measurement of property done by a registered professional showing the dimensions and location of any buildings as well as easements, rights of way, roads, etc.
Last Modified: 12/11/2020 3:47 PM