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U-value

The amount of heat a door or window handles between the inside air and the environment.

U.S. Department of Housing and Urban Development

A federal agency that oversees the Federal Housing Administration (FHA) and a variety of housing and community development programs. Also known as HUD.

unbundled real estate services

Real estate services that are purchased one transaction at a time.

underlayment

A layer of wood between the sub floor and the floor.

underwriters knot

A code-approved knot that is tied at the end of an electrical cord to prevent the wires from being pulled away from their connection to electrical terminals.

underwriting

The process in which lenders evaluate the risks posed by a particular borrower and set appropriate conditions for the loan.

underwriting fee

A fee charged by the lender to verify information on the loan application, authenticate the properties worth as collateral, and make a final determination about whether to grant a loan to the applicant.

undisclosed heir

A person who claims the right to a property after the death of an owner who died without leaving a will.

undisclosed spouse

A marital partner who can claim the right to a piece of property but is not identified in the owners will.

unilateral contract

A one-sided contract where one party makes a promise to do something, the second party is not legally required to perform. However, if the second party does comply, the first party is obligated to keep the promise.

unrecorded deed

A deed that transfers ownership from one party to another without being officially recorded.

unsecured loan

A loan that is not backed up by collateral.

upgrades

Additional options offered to buyers in a new-home project.

upzoning

The process in which a property is zoned from a lower to a higher use.

urban sprawl

The unplanned expansion of a development.

usury

Illegally excessive interest charged on a loan.