Search results
Results From The WOW.Com Content Network
After an investor has been selected, the mortgage banker draws on the warehouse line of credit to fund a mortgage and sends the loan documentation to the warehouse credit-providing institution to act as a collateral for the line of credit. The warehouse lender, at this stage, perfects a security interest in the mortgage note to serve as collateral.
United States President Woodrow Wilson proposed the Warehouse Act at a political nomination convention in Sea Girt, New Jersey on September 2, 1916: . For the farmers of the country we have virtually created commercial credit, by means of the Federal Reserve Act and the Rural Credits Act.
A commercial mortgage is a mortgage loan secured by commercial property, such as an office building, shopping center, industrial warehouse, or apartment complex.The proceeds from a commercial mortgage are typically used to acquire, refinance, or redevelop commercial property.
A mortgage servicer is the company that handles your mortgage statements and all day-to-day tasks related to managing your loan after it closes. For example, the servicer collects your payments ...
Warehouse lenders typically offer this financing within a tight timeline, with the expectation that the loan will be sold right after closing, at which point the lender gets repaid. Correspondent ...
This was the mortgage by conveyance (aka mortgage in fee) or, when written, the mortgage by charter and reconveyance [8] and took the form of a feoffment, bargain and sale, or lease and release. Since the lender did not necessarily enter into possession, had rights of action, and covenanted a right of reversion on the borrower, the mortgage was ...
An FNMA loan, aka a conforming loan or Fannie Mae-backed mortgage, is a loan or mortgage that has been sold to the Federal National Mortgage Association (FNMA, or Fannie Mae) — or one that meets ...
Federal home loan bank Atlanta. The FHLBank System was chartered by Congress in 1932, during the Great Depression. [1] It has a primary mission of providing member financial institutions with financial products/services which assist and enhance the financing of housing and community lending.