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GSE chief says mortgage aid plan should be model

GSE chief says mortgage aid plan should be model

This is a discussion on GSE chief says mortgage aid plan should be model within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; WASHINGTON (Reuters) - US bmortgage/b finance companies should soon adopt a foreclosure prevention plan developed by Fannie Mae and Freddie ...

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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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11-13-2008, 11:42 PM

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GSE chief says mortgage aid plan should be model

WASHINGTON (Reuters) - US bmortgage/b finance companies should soon adopt a foreclosure prevention plan developed by Fannie Mae and Freddie Mac to ease loan terms for troubled borrowers, the companies’ overseer said on Thursday. b.../b

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