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The job of an AMC is fairly straightforward: When someone wants to get a mortgage for a house, the lender will order an appraisal of the property to determine how much it's worth (and, by ...
If 10% of Americans apply for a mortgage over the next 12 months, an estimated 200,000 borrowers who originally might not have qualified under the tri-merge system could borrow a GSE home loan ...
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A key question is what to pay for the assets. For example, a bank may believe an asset, such as a mortgage-backed security with a claim on cash from the underlying mortgages, is worth 50 cents on the dollar, while it may only be able to find a buyer on the open market for 30 cents. The bank has no incentive to sell the assets at the 30 cent price.
Refinancing your mortgage can save you a lot of money in interest and lower your monthly payment -- when the numbers makes sense, that is. But there are times when a seemingly money-saving move ...
However, if a subprime mortgage is the only way you can become a homeowner, this type of loan might be worth the downsides. Consumer protections are more robust now than they were during the ...
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