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FINANCING II PRIMARY & SECONDARY MORTGAGES

Chapter 15 Dearborn 13th Edition
Horizontales
Loan not intended for resale on the secondary market
Process of deciding whether to make specific loans
Required items before lender can proceed
Lending institution that makes mortgages fto the public
Loan in which investor shares payments and profits
Detailed loan costs
Regulates consumer loans
Percentage of income borrower may spend on housing expenses
Arrangement by which seller becomes tennant
Verticales
Larger loan that does not disturb underlying mortgage
Mortgage in which lender sends regular payments, building up debt
Words in an ad that require full disclosure of financing conditions
Seller financing
Merges TILA and RESPA disclosures
Implements the "Truth-In-LendingbAct.