An obligation bond that combines the cash flow from a pool of mortgages and uses the revenue to repay investors their mortgage principal and interest; the MCFO does not hold a lien on the properties but is required by contract to meet its obligations
An individual or company which brings borrowers and lenders together for the purpose of loan origination but which does not originate or service the mortgages. The broker might also negotiate with the lender to try and find the best possible financial deal possible for the borrower.
The points and interest rates that wholesale lenders quote to correspondent lenders and mortgage brokers
An individual or company which brings borrowers and lenders together for the purpose of loan origination but which does not originate or service the mortgages. The broker might also negotiate with the lender to try and find the best possible financial deal possible for the borrower.
The points and interest rates that wholesale lenders quote to correspondent lenders and mortgage brokers
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