Housing Bank
A government-owned or -affiliated lender that makes home loans directly to consumers. With minor exceptions, government in the U.S. has never loaned directly to consumers, but housing banks have been widespread in many developing countries. In the first two decades after World War II, about 50 housing banks were formed in the same number of countries.
Popular Mortgage Terms
Every ARM is tied to an interest rate index. An index has three relevant features:availibility, level, volatility. All the common ARM indexes are readily available from a published source, ...
The rate charged the borrower each period for the loan of money, by custom quoted on an annual basis. A mortgage interest rate is a rate on a loan secured by a specific property. ...
Same as term Lead Generation Site: A mortgage Web site designed to provide leads to lenders. A 'lead' is a packet of information about a consumer in the market for a loan. Lenders pay ...
A documentation rule where the borrower discloses assets and their source but the lender does not verify the amount. ...
When a borrower has difficulty making the scheduled payment. Position of the Lender: A good place to start is by understanding the position of the lender. A game plan for survival ...
The option to convert an ARM to an FRM at some point during its life. ...
A mortgage lender that sells all the loans it originates in the secondary market. ...
Same as term Qualification: The process of determining whether a prospective borrower has the ability to repay a loan. ...
The dollar amount of interest paid each month. The interest payment is the same as interest due so long as the scheduled mortgage payment is equal to or greater than the interest due. ...
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