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  2. Mortgagor vs. mortgagee: What’s the difference? - AOL

    www.aol.com/finance/mortgagor-vs-mortgagee...

    The mortgagor is the person or entity who borrows and pays back a mortgage loan. If you're getting a mortgage to buy a home, you're the mortgagor. The mortgagee is the lender, such as a bank ...

  3. Financial transaction - Wikipedia

    en.wikipedia.org/wiki/Financial_transaction

    Loans and mortgages are examples of credit. The lender agrees to give out a lump sum (the "principal") to the borrower, who pays back the loaned amount over a set period of time (called a "term"). The lender usually charges an additional percentage on top of the initial amount borrowed, called the "interest rate". [22]

  4. Mortgage bank - Wikipedia

    en.wikipedia.org/wiki/Mortgage_bank

    A mortgage bank is a bank that specializes in originating and/or servicing mortgage loans. In the United States, a mortgage bank is a state-licensed banking entity that makes mortgage loans directly to consumers. The difference between a mortgage banker and a mortgage broker is that the mortgage banker funds loans with its own capital.

  5. Personal loan vs. home equity loan: Which should you use for ...

    www.aol.com/finance/personal-loan-vs-home-equity...

    Typical features. Personal loan. Home equity loan. Rates. 8% to 36%. Varies based on the prime rate. Loan amounts. $2,000 to $50,000. Up to 85% of your home’s value

  6. Mortgage industry of the United States - Wikipedia

    en.wikipedia.org/wiki/Mortgage_industry_of_the...

    Mortgage loan financing relies more on secondary mortgage markets and less on formal government guarantees backed by covered bonds and deposits. [8] [9] Prepayment penalties are discouraged by underwriting requirements of large organizations such as Fannie Mae and Freddie Mac. [8] Mortgages loans are often nonrecourse debt, unlike most of the ...

  7. Mortgage lender vs. servicer: What’s the difference? - AOL

    www.aol.com/finance/mortgage-lender-vs-servicer...

    The mortgage loan servicer picks up where the mortgage lender leaves off. Once the loan is transferred, the servicer takes over the ongoing administration of the loan. Mortgage servicing can ...

  8. Portfolio mortgages: What they are and how they work

    www.aol.com/finance/portfolio-mortgages...

    For example, North American Savings Bank‘s website features a portfolio loan that requires a 20 percent down payment (vs. 3 to 10 percent for conventional loans), a debt-to-income ratio of up to ...

  9. Loan agreement - Wikipedia

    en.wikipedia.org/wiki/Loan_agreement

    Loan agreements are documented via their commitment letters, agreements that reflect the understandings reached between the involved parties, a promissory note, and a collateral agreement (such as a mortgage or a personal guarantee). Loan agreements offered by regulated banks are different from those that are offered by finance companies in ...