A comprehensive explanation of the Ability-to-Repay (ATR) rule, federal guidelines that ensure lenders determine a borrower’s capacity to repay a mortgage before extending credit.
A comprehensive overview of Building Societies, their history, functions, transformation, and comparison with other financial institutions.
A comprehensive overview of second mortgages, their implications, and applications in real estate finance.
Thrift Institutions, including Savings and Loan Associations, are financial institutions primarily focused on accepting savings deposits and making mortgage and other loans.
Comprehensive explanation of Rate Caps and their role in Adjustable-Rate Mortgages. Detailed insights into different types of rate caps, historical context, applicability, and related terms.
Redlining is an illegal practice involving the refusal to originate mortgage loans in certain neighborhoods based on race or ethnic composition. The term stems from the alleged practice of drawing red lines on maps to mark off-limit areas for loan approvals.
A detailed exploration of junior mortgages, their significance, operational framework, limitations, and important considerations for borrowers.
A comprehensive guide on the Total Debt Service (TDS) ratio, including its definition, calculation method, and practical examples. Essential for mortgage industry professionals and borrowers.
Discover the intricacies of Yield Spread Premium (YSP), a commission mortgage brokers earn for offering borrowers interest rates higher than the available market best. Learn how YSP works, its implications, and considerations.
