A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Partnership Two or more trading partners. PITI An acronym for payments to lender that cover principal, interest, taxes and insurance on a property. Point A fee paid to the lender on closing day to increase the effective yield of the mortgage. A point is one percent of the amount of the mortgage loan/ Also called a discount point. Pre-Approval A commitment by a lender to extend credit provided that specific conditions are met.