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By the beginning of the 21st century, these innovations had created an "originate to distribute" model for mortgages, which means that mortgage became almost as much securities as they were loans. Because subprime loans have such high repayment risk, the origination of large volumes of subprime loans by thrift institutions or commercial banks ...
The foreclosure process as applied to residential mortgage loans is a bank or other secured creditor selling or repossessing a parcel of real property after the owner has failed to comply with an agreement between the lender and borrower called a "mortgage" or "deed of trust".
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Key components of the market – for example, the multitrillion-dollar repo lending market, off-balance-sheet entities, and the use of over-the-counter derivatives – were hidden from view, without the protections we had constructed to prevent financial meltdowns. We had a 21st-century financial system with 19th-century safeguards. [135]
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When you buy a home with a mortgage, that mortgage is the first or primary lien on the property. A second mortgage is an additional lien tied to your home. In the case of down payment assistance ...
Sanchez, 836 S.W.2d 151, where a repossession agent towed away a car even after the loanee locked herself in it, the court decided that this was an unlawful breach of the peace and declared the repossession invalid. The debtor was also awarded $1,200,000 in damages from the bank involved.
Key components of the market—for example, the multitrillion-dollar repo lending market, off-balance-sheet entities, and the use of over-the-counter derivatives—were hidden from view, without the protections we had constructed to prevent financial meltdowns. We had a 21st-century financial system with 19th-century safeguards." [1]