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Council of Mortgage Lenders |
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Council of Mortgage LendersAn institution that sets out code a code of good practice which mortgage lenders volunteer to stick to - they are not regulated by the government.Council of Mortgage Lenders Similar MatchesMortgage pipelineMortgage pipelineThe period from the taking of applications from prospective mortgage borrowers to the marketing of the loans. Mortgage applicationMortgage applicationForms used to assess whether you meet the lender's underwriting criteria. These criteria are set to ensure that barring any unforeseeable change in circumstances, you will be able to support the mortgage and meet the repayments. Questions relate to such things as income & status, equity, personal details, credit history etc. Base rate tracker mortgageBase rate tracker mortgageA mortgage in which the rate of interest paid by the borrower follows movements in the base rate. Open end mortgageOpen end mortgageMortgage against which additional debts may be issued. Related: Closed-end mortgage. Biweekly mortgage loanBiweekly mortgage loanA mortgage whereby the borrower makes a half monthly payment every two weeks instead of the usual 12 monthly payments. This arrangement results in 26 half monthly payments per year and a significant reduction in interest since an extra monthly payment is made. Further SuggestionsFixed term reverse mortgageadjustable rate mortgage Tracker mortgages Cooperative mortgages senior mortgage bond Shared appreciation mortgage mortgage interest deduction Repayment mortgage Collateralized mortgage obligation (CMO) Variable rate mortgages GEM (growing equity mortgage) Mortgage Backed Securities Clearing Corporation (MBSCC) Federal Agricultural Mortgage Corporation (Farmer Mac) Mortgage incentives Private Mortgage Insurance Mortgage Banker Stepped discount mortgage discounted rate mortgage Foreign currency mortgage Mortgage Servicing Government National Mortgage Association mortgage backed security mortgagee Stripped mortgage backed securities (SMBS) Mortgage pipeline risk |
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