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Mortgage Professor about equal cretit opportunity act: | |||||||||||||||||||||||
What Is a Mortgage "Overage?"
June 23, 2003 "I eavesdropped on my loan officer and heard him say that he was on his way to a ?nice overage?. What is an overage?" It is money extracted from your pocket by the loan officer. In the high-stakes poker game that is the home mortgage market, you ... more... Other Questions Mortgage Brokers Ask November 1, 2000 Why do I need a web site? A web site is the means by which you declare who you are and what you do. By placing the UMB commitment on your site, you are announcing to the public that you are prepared ... more... |
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equal cretit opportunity act related definitions |
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Equal Credit Oportunity Act
Equal Credit Oportunity Act (ECOA) Is a federal law that requires lenders and other creditors to make credit equally available without discrimination based on race, color, religion, national origin, age, sex, marital status or receipt of income from public assistance programs. ... more... Debt To Income Ratio Debt To Income Ratio The ratio, expressed as a percentage, which results when a borrower's monthly payment obligation on long-term debts is divided by his or her gross monthly income. Equal Credit Act Debt ... more... |
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