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Mortgage Professor about predatory lender: | |||||||||||||||||||||||
What Is Predatory Lending?
November 8, 1999 "What is 'predatory lending'"? Predatory lendinghas been much in the news lately, and legislation has been introduced in a number of states to regulate it away. Most of this proposed legislation is ill-advised -- a knee-jerk response to horror stories. ... more... Borrowers Should Be Able to Fire Mortgage Servicers February 2, 2004 "I'm very unhappy with the lender servicing my mortgage, would you spell out the procedures for changing lenders?" Bad news, the only way to change the lender servicing your loan is by refinancing. Unless you have other reasons to refinance, ... more... |
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predatory lender related definitions |
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Non Conforming Loan
Non Conforming Loan A loan that does not meet the Fannie Mae or Freddie Mac underwriting guidelines. This is also known as a portfolio mortgage. The loan can't be sold on the secondary market so it must keep it and service it in its own portfolio. Non-conforming loans have ... more... Origination Fee Origination Fee Charge by a lender or broker connected with originating a loan; charged to prepare loan documents, make credit checks, inspect and sometimes appraise a property; usually computed as a percentage of the value of the loan. Loan origination fee usually ... more... |
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