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Is our mortgage lenders learning?

Is our mortgage lenders learning?

This is a discussion on Is our mortgage lenders learning? within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; THE Orange County Register reports:In November, Wells Fargo issued a $289275 mortgage for 920 W. Camile to an investor who ...

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Mortgage Know-How A mortgage is the transfer of an interest in property (or the equivalent in law - a charge) to a lender as a security for a debt - usually a loan of money. While a mortgage in itself is not a debt, it is the lender's security for a debt. It is a transfer of an interest in land (or the equivalent) from the owner to the mortgage lender, on the condition that this interest will be returned to the owner when the terms of the mortgage have been satisfied or performed. In other words, the mortgage is a security for the loan that the lender makes to the borrower.

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08-01-2008, 06:57 PM

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Is our mortgage lenders learning?

THE Orange County Register reports:In November, Wells Fargo issued a $289275 mortgage for 920 W. Camile to an investor who had purchased the home at a foreclosure auction. In January, after the house was spruced up, Wells Fargo issued a ...

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