Note

Note

Mortgage. Notes Receivable Income Notes Receivable Income refers to income received by the Borrower as payee or holder in due course of a promissory Note or similar credit instrument. Notice of Deficiency (NOD) A Notice of Deficiency (NOD) refers to a formal notification from FHA to an appraiser when a review identifies an error or lack of compliance. An NOD is not a sanction and is not considered severe enough to require remedial education or removal. Notice of Intent to Prepay Notice of Intent to Prepay refers to the advance notice that Borrowers on Mortgages insured before August 2, 1985, must provide in order to prepay their FHA-insured Mortgages in full without penalty.