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2. What is a mortgagee clause? - AOL

   www.aol.com/finance/mortgagee-clause-190100413.html

   Many mortgage lenders require borrowers to have a homeowners insurance policy with a mortgagee clause. The mortgagee clause is a provision that protects the lender from financial loss if the ...

3. What is an acceleration clause? And what triggers it? - AOL

   www.aol.com/finance/acceleration-clause-triggers...

   An acceleration clause is a section of a mortgage contract that can have big consequences: Namely, it can require you to pay off your entire mortgage at once. Even if you miss only one payment.

4. Mortgagor vs. mortgagee: What’s the difference? - AOL

   www.aol.com/finance/mortgagor-vs-mortgagee...

   The mortgagee is the lender, such as a bank, credit union or online lender. This is the entity providing the funds via a mortgage to buy a home. The mortgagee determines if the mortgagor qualifies ...

5. Loan covenant - Wikipedia

   en.wikipedia.org/wiki/Loan_covenant

   The legal provision in the loan agreement providing for the loan to be "called" is the "acceleration clause": once the buyer defaults, all future payments due under the loan are "accelerated" and deemed to be due and payable immediately. [1] Covenants may also be waived, either temporarily or permanently, usually at the sole discretion of the ...

6. Garn–St. Germain Depository Institutions Act - Wikipedia

   en.wikipedia.org/wiki/Garn–St._Germain...

   The bill states "... a lender may not exercise its option pursuant to a due-on-sale clause upon ... a transfer into an inter vivos trust in which the borrower is and remains a beneficiary and which does not relate to a transfer of rights of occupancy in the property[.]" (The Garn st Germain Depository Institutions Act of 1982, (U.S.C.) 1701j-3 ...

7. Mortgage Electronic Registration Systems - Wikipedia

   en.wikipedia.org/wiki/Mortgage_Electronic...

   Mortgage Electronic Registration Systems, Inc. (MERS) is an American privately held corporation. [1] MERS is a separate and distinct corporation that serves as a nominee on mortgages after the turn of the century and is owned by holding company MERSCORP Holdings, Inc., which owns and operates an electronic registry known as the MERS system, which is designed to track servicing rights and ...

8. Closing documents: A guide for homebuyers - AOL

   www.aol.com/finance/closing-documents-guide...

   800-290-4726 more ways to reach us. Sign in. Mail. 24/7 Help. ... you’ll need to provide a mortgagee clause, indicating that the lender is an interested party in the property. ... The 5 handbag ...

9. Mortgage assumption - Wikipedia

   en.wikipedia.org/wiki/Mortgage_assumption

   All mortgages are potentially assumable, though lenders may attempt to prevent the assumption of a mortgage loan with a due-on-sale clause. Certain mortgage types are irrefutably assumable, such as those insured by the FHA, guaranteed by the VA, or guaranteed by the USDA. As of 2014, FHA and VA assumable mortgages make up approximately 18%, or ...