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U.S. Department. of Housing and Urban Development (HUD)

A federal agency that oversees the Federal Housing Administration and a variety of housing and community development programs.

Underwriting

The process that lenders go through to evaluate the risks posed by a particular borrower and to set appropriate conditions for the loan.

Unsecured loan

Any loan that is not backed by collateral.

Upzoning

The process in which a parcel of land is zoned from a lower to a higher use, such as the number of dwelling units allowed.

Urban sprawl

The unplanned expansion of development over a large area.

Useable area

Area available for the exclusive use of the tenant. It is the tenant’s rentable area less certain common areas shared by all tenants of the office building (such as corridors, storage facilities and bathrooms). It is calculated by multiplying the rentable area by the building’s efficiency percentage, which is the useable square feet divided by the rentable square feet.

Usury

A reference to illegally excessive interest charged on any loan.

Some definitions come from the Certified Commercial Investment Member Institute (CCIM).