Promissory Note A legally binding written promise by the borrower to repay a specific sum of money to the lender or note holder under specified terms and conditions. It outlines the principal amount, interest rate, payment schedule, and maturity date. For private mortgage note [...]
MBA proposes seven reforms for the HECM and HMBS programs, focusing on new securitization options and adjustments to mortgage insurance premiums.
Chase Home Lending offers a limited-time rate discount on refinance mortgages, providing potential savings for borrowers acting swiftly. Explore the benefits.
eXp Realty introduces LYVVE, a global property search platform, enhancing connections between eXp listings and agents across nearly 30 countries.
Explore how mortgage originators navigate a shifting market with innovative non-QM solutions, emphasizing client education and relationship-building for success.
Key Terms in Private Mortgage Servicing Glossary Mortgage Servicing Mortgage servicing encompasses the administrative tasks involved in managing a mortgage loan from the point of funding until it’s paid off. This includes collecting monthly payments, managing escrow accounts for taxes and insurance, handling customer [...]
Key Terms in Private Mortgage Servicing Private Mortgage Servicing This refers to the administrative process of managing a mortgage loan after it has been originated, specifically for loans held by private individuals or entities rather than large institutional banks. It encompasses collecting principal and [...]
Key Terms in Private Mortgage Servicing Mortgage Servicing Mortgage servicing refers to the administrative process of managing a mortgage loan from its origination until it is paid off or enters default. For private mortgage lenders, brokers, and investors, effective servicing is crucial as it [...]
Credit Risk Credit risk refers to the potential for a borrower to default on their loan obligations, failing to make payments as agreed. For private lenders and investors, assessing credit risk is paramount during underwriting to determine the likelihood of repayment and set appropriate [...]
Key Terms in Private Mortgage Servicing Glossary Key Terms in Private Mortgage Servicing Mortgage Servicing Mortgage servicing encompasses all the administrative tasks involved in managing a mortgage loan after it has been originated. For private lenders and investors, this means handling borrower payments, maintaining [...]
