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UPDATE 2-US Rep Frank targets mortgage service legal pacts

UPDATE 2-US Rep Frank targets mortgage service legal pacts

This is a discussion on UPDATE 2-US Rep Frank targets mortgage service legal pacts within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; UPDATE 2-US Rep Frank targets bmortgage/b service legal pacts Reuters - USA By Kevin Drawbaugh WASHINGTON, Nov 12 (Reuters) - ...

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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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11-12-2008, 08:44 PM

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UPDATE 2-US Rep Frank targets mortgage service legal pacts

UPDATE 2-US Rep Frank targets bmortgage/b service legal pacts Reuters - USA By Kevin Drawbaugh WASHINGTON, Nov 12 (Reuters) - Congress needs to tackle legal obstacles that prevent bmortgage/b servicing companies from doing more to help … b.../b

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