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Mortgage Professor about family mortgage law: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Canceling Private Mortgage Insurance (2)
January 22, 2001 "I was told that under Federal legislation passed in 1999, private mortgage insurance is cancelled automatically at some point -- borrowers don?t have to do anything. Is that right." Yes. Under one provision of that law, lenders are required to ... more... Fannie Mae Under the Gun 17 January 2005 The Accounting Scandal at Fannie Mae "The media has been full of stories recently about accounting scandals at Fannie Mae?Is this another Enron? What does it mean to John Q. Public?" It is an accounting scandal, and heads have rolled as a result, but it is not ... more... |
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family mortgage law related definitions |
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RESPA
Real Estate Settlement Procedure Act (RESPA) A federal law passed in 1974 that requires lenders to provide home mortgage borrowers in advance with information of known or estimated settlement costs. RESPA also limits the amount lenders may require to be held in escrow for ... more... Second Mortgage, Home Equity Loan Second Mortgage, Home Equity Loan A secured loan (mortgage) that is subordinate to another loan against the same property. More specifically, the second loan in sequence. Generally, second mortgage hass a higher interest rate and with shorter terms than a ... more... |
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