mortgage lending
Property loan business
Mortgage lending is the business of providing loans secured by real property.
Banks, credit unions, and specialized lenders engage in mortgage lending, evaluating borrowers' creditworthiness and the value of the property before approving loans.
Mortgage lending standards tightened after the 2008 financial crisis.
The term covers both the institutional practice and the broader industry.
- loan officerEvaluates borrowing requests
- borrowerOne who takes temporarily
- down paymentInitial sum toward purchase
- good faith estimateSincere preliminary cost projection
- home loanDebt for property purchase
refinancing · title company · loans · appraiser · balloon payment · escrow account · foreclosure · underwriter · closing costs · closing day · usury laws · property values · real estate · housing market · prepayment penalty · debt-to-income ratio · signing · bank
- housingapartments, home, house, houses, homes
- bankingbank, banks, ATM, ATMs, account
- home servicescleaning, cleaning service, housekeeping, cleaning services, house cleaning
- US bankingFDIC, Fed, national banks, bank runs, bank failures
- Banking Historybank runs, bank failures, central banks, Federal Reserve, gold standard
- Canadian FinanceRBC, Bank of Canada, Scotiabank, BMO, loonie
mortgage lendingunsecured credit
Lending without pledged assets
personal loans · unsecured debt · payday lending · consumer credit · installment loans