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Mortgage market (a long-term loans secured by real estate) ((mortgage…
Mortgage market
(a long-term loans
secured by real estate)
to negotiate terms and effectuate mortgage transactions
brokers
bankers
credit unions
hedge funds
loans and servicing rights are bought and sold
Originators
Aggregators
Investors
subsidiaries of banks
independently owned
mortgage interest rate
the most important factor
A loan term
Collateral
Real estate
a lien against the property
a deed
A down payment
loan proceeds
PMI
make up any discrepancy
Borrower qualification
qualify for
outstanding indebtness
Primary market
Secondary market
Loan-production offices
A variety of terms and options