Mortgage - Knowledge

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of the two major government-sponsored entities in the housing finance market (including some legal requirements). In contrast, lenders who decide to make nonconforming loans are exercising a higher risk tolerance and do so knowing that they face more challenge in reselling the loan. Many countries have similar concepts or agencies that define what are "standard" mortgages. Regulated lenders (such as banks) may be subject to limits or higher-risk weightings for non-standard mortgages. For example, banks and mortgage brokerages in Canada face restrictions on lending more than 80% of the property value; beyond this level, mortgage insurance is generally required.

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typically made monthly, contain a repayment of the principal and an interest element. The amount going toward the principal in each payment varies throughout the term of the mortgage. In the early years the repayments are mostly interest. Towards the end of the mortgage, payments are mostly for principal. In this way, the payment amount determined at outset is calculated to ensure the loan is repaid at a specified date in the future. This gives borrowers assurance that by maintaining repayment the loan will be cleared at a specified date if the interest rate does not change. Some lenders and 3rd parties offer a

150: 334: 2664:, the U.S. government insures reverse mortgages via a program called the HECM (Home Equity Conversion Mortgage). Unlike standard mortgages (where the entire loan amount is typically disbursed at the time of loan closing) the HECM program allows the homeowner to receive funds in a variety of ways: as a one time lump sum payment; as a monthly tenure payment which continues until the borrower dies or moves out of the house permanently; as a monthly payment over a defined period of time; or as a credit line. 1297: 3104: 2829:

and have (as of 2004) reached about 6 per cent per annum. However, gross borrowing costs are substantially higher than the nominal interest rate and amounted for the last 30 years to 10.46 per cent. In Denmark, similar to the United States mortgage market, interest rates have fallen to 6 per cent per annum. A risk and administration fee amounts to 0.5 per cent of the outstanding debt. In addition, an acquisition fee is charged which amounts to one per cent of the principal.

5514: 1206: 2944:(OSFI) released guidelines for mortgage insurance providers aimed at tightening standards around underwriting and risk management. In a statement, the OSFI has stated that the guideline will "provide clarity about best practices in respect of residential mortgage insurance underwriting, which contribute to a stable financial system." This comes after several years of federal government scrutiny over the CMHC, with former Finance Minister 2541: 53: 5540: 1194: 5527: 2138:

below for a definition of this term). The loan to value ratio (or LTV) is the size of the loan against the value of the property. Therefore, a mortgage loan in which the purchaser has made a down payment of 20% has a loan to value ratio of 80%. For loans made against properties that the borrower already owns, the loan to value ratio will be imputed against the estimated value of the property.

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a few days to a few weeks. Sometimes the underwriting process takes so long that the provided financial statements need to be resubmitted so they are current. It is advisable to maintain the same employment and not to use or open new credit during the underwriting process. Any changes made in the applicant's credit, employment, or financial information could result in the loan being denied.

298:, depending on the country concerned, and the loan arrangements can be made either directly or indirectly through intermediaries. Features of mortgage loans such as the size of the loan, maturity of the loan, interest rate, method of paying off the loan, and other characteristics can vary considerably. The lender's rights over the secured property take priority over the borrower's other 3173:, meaning that Muslims cannot use conventional mortgages. The Islamic mortgage loan cancels any form of interest because of doctrines, so in the mortgage loan process, the lender and the borrower are more like a capital-shared partnership than a debt relationship. However, real estate is far too expensive for most people to buy outright using cash: 2503:, where the principal is not repaid throughout the term. This type of mortgage is common in the UK, especially when associated with a regular investment plan. With this arrangement regular contributions are made to a separate investment plan designed to build up a lump sum to repay the mortgage at maturity. This type of arrangement is called an 1993:

markets, such as the banking industry), and often through state intervention (direct lending by the government, direct lending by state-owned banks, or sponsorship of various entities). Other aspects that define a specific mortgage market may be regional, historical, or driven by specific characteristics of the legal or financial system.

2094:). In some countries, such as the United States, fixed rate mortgages are the norm, but floating rate mortgages are relatively common. Combinations of fixed and floating rate mortgages are also common, whereby a mortgage loan will have a fixed rate for some period, for example the first five years, and vary after the end of that period. 2929:(CMHC) is the country's national housing agency, providing mortgage loan insurance, mortgage-backed securities, housing policy and programs, and housing research to Canadians. It was created by the federal government in 1946 to address the country's post-war housing shortage, and to help Canadians achieve their homeownership goals. 2103:

widely used where fixed rate funding is difficult to obtain or prohibitively expensive. Since the risk is transferred to the borrower, the initial interest rate may be, for example, 0.5% to 2% lower than the average 30-year fixed rate; the size of the price differential will be related to debt market conditions, including the

2990:, but from the 1970s the share of the new mortgage loans market held by building societies has declined substantially. Between 1977 and 1987, the share fell from 96% to 66% while that of banks and other institutions rose from 3% to 36%. (The figures have since changed further in favour of banks in part due to 3148:

For Islamic home financing, it follows the Sharia Law and comes in 2 common types: Bai’ Bithaman Ajil (BBA) or Musharakah Mutanaqisah (MM). Bai' Bithaman Ajil is when the bank buys the property at current market price and sells it back to you at a much higher price. Musharakah Mutanaqisah is when the

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Mortgages in Malaysia can be categorised into two different groups: conventional home loan and Islamic home loan. Under the conventional home loan, banks normally charge a fixed interest rate, a variable interest rate, or both. These interest rates are tied to a base rate (individual bank's benchmark

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Interest-only lifetime mortgage schemes are currently offered by two lenders – Stonehaven and more2life. They work by having the options of paying the interest on a monthly basis. By paying off the interest means the balance will remain level for the rest of their life. This market is set to increase

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During the mortgage loan approval process, a mortgage loan underwriter verifies the financial information that the applicant has provided as to income, employment, credit history and the value of the home being purchased via an appraisal. An appraisal may be ordered. The underwriting process may take

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In the event of repossession, banks, investors, etc. must resort to selling the property to recoup their original investment (the money lent) and are able to dispose of hard assets (such as real estate) more quickly by reductions in price. Therefore, the mortgage insurance acts as a hedge should the

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This policy is typically paid for by the borrower as a component to final nominal (note) rate, or in one lump sum up front, or as a separate and itemized component of monthly mortgage payment. In the last case, mortgage insurance can be dropped when the lender informs the borrower, or its subsequent

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which is a tax charged by the government on a change of ownership. Because ownership changes twice in an Islamic mortgage, a stamp tax may be charged twice. Many other jurisdictions have similar transaction taxes on change of ownership which may be levied. In the United Kingdom, the dual application

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is one where the amount of monthly payments due are calculated (amortized) over a certain term, but the outstanding balance on the principal is due at some point short of that term. In the UK, a partial repayment mortgage is quite common, especially where the original mortgage was investment-backed.

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A resurgence in the equity release market has been the introduction of interest-only lifetime mortgages. Where an interest-only mortgage has a fixed term, an interest-only lifetime mortgage will continue for the rest of the mortgagors life. These schemes have proved of interest to people who do like

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Until recently it was not uncommon for interest only mortgages to be arranged without a repayment vehicle, with the borrower gambling that the property market will rise sufficiently for the loan to be repaid by trading down at retirement (or when rent on the property and inflation combine to surpass

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A standard or conforming mortgage is a key concept as it often defines whether or not the mortgage can be easily sold or securitized, or, if non-standard, may affect the price at which it may be sold. In the United States, a conforming mortgage is one which meets the established rules and procedures

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Some lenders may also require a potential borrower have one or more months of "reserve assets" available. In other words, the borrower may be required to show the availability of enough assets to pay for the housing costs (including mortgage, taxes, etc.) for a period of time in the event of the job

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In an adjustable-rate mortgage, the interest rate is generally fixed for a period of time, after which it will periodically (for example, annually or monthly) adjust up or down to some market index. Adjustable rates transfer part of the interest rate risk from the lender to the borrower and thus are

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announced that, along with four large U.S. banks, the Treasury would attempt to kick start a market for these securities in the United States, primarily to provide an alternative form of mortgage-backed securities. Similarly, in the UK "the Government is inviting views on options for a UK framework

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is highest, strong domestic markets for mortgages have developed. Mortgages can either be funded through the banking sector (that is, through short-term deposits) or through the capital markets through a process called "securitization", which converts pools of mortgages into fungible bonds that can

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and the ensuing recession, Canada's mortgage market continued to function well, partly due to the residential mortgage market's policy framework, which includes an effective regulatory and supervisory regime that applies to most lenders. Since the crisis, however, the low interest rate environment

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are not identical with banks that give mortgages. In addition, they charge administration and service fees (about 1.5 per cent of the loan amount). However, in the United States, the average interest rates for fixed-rate mortgages in the housing market started in the tens and twenties in the 1980s

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are used in lieu of or to supplement these measures. There will also be requirements for documentation of the creditworthiness, such as income tax returns, pay stubs, etc. the specifics will vary from location to location. Income tax incentives usually can be applied in forms of tax refunds or tax

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Western European countries present a diversified landscape, with some countries (France, Belgium, Germany, the Netherlands, Denmark) where fixed-rate mortgages are the norm and some countries (Austria, Greece, Italy, Portugal, Spain, Sweden) favouring adjustable-rate mortgages. Much of Europe has

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Many countries have a notion of standard or conforming mortgages that define a perceived acceptable level of risk, which may be formal or informal, and may be reinforced by laws, government intervention, or market practice. For example, a standard mortgage may be considered to be one with no more

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Upon making a mortgage loan for the purchase of a property, lenders usually require that the borrower make a down payment (called a deposit in English law); that is, contribute a portion of the cost of the property. This down payment may be expressed as a portion of the value of the property (see

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Mortgage lending will also take into account the (perceived) riskiness of the mortgage loan, that is, the likelihood that the funds will be repaid (usually considered a function of the creditworthiness of the borrower); that if they are not repaid, the lender will be able to foreclose on the real

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Many other specific characteristics are common to many markets, but the above are the essential features. Governments usually regulate many aspects of mortgage lending, either directly (through legal requirements, for example) or indirectly (through regulation of the participants or the financial

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Depending on the size of the loan and the prevailing practice in the country the term may be short (10 years) or long (50 years plus). In the UK and U.S., 25 to 30 years is the usual maximum term (although shorter periods, such as 15-year mortgage loans, are common). Mortgage payments, which are

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In an attempt to cool down the real estate prices in Canada, Ottawa introduced a mortgage stress test effective 17 October 2016. Under the stress test, every home buyer who wants to get a mortgage from any federally regulated lender should undergo a test in which the borrower's affordability is

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formulae. The most basic arrangement would require a fixed monthly payment over a period of ten to thirty years, depending on local conditions. Over this period the principal component of the loan (the original loan) would be slowly paid down through amortization. In practice, many variants are

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like Australia and Spain. Thus, lenders prefer variable-rate mortgages to fixed rate ones and whole-of-term fixed rate mortgages are generally not available. Nevertheless, in recent years fixing the rate of the mortgage for short periods has become popular and the initial two, three, five and,

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the mortgaged property if certain conditions occur – principally, non-payment of the mortgage loan. Subject to local legal requirements, the property may then be sold. Any amounts received from the sale (net of costs) are applied to the original debt. In some jurisdictions, mortgage loans are

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guidelines to UK lenders regarding interest-only mortgages have tightened the criteria on new lending on an interest-only basis. The problem for many people has been the fact that no repayment vehicle had been implemented, or the vehicle itself (e.g. endowment/ISA policy) performed poorly and

2956:, the rate is the maximum of the stress test rate and the current target rate. However, for uninsured mortgage, the rate is the maximum of the stress test rate and the target interest rate plus 2%. This stress test has lowered the maximum mortgage approved amount for all borrowers in Canada. 2179:

deduction schemes. The first implies that income tax paid by individual taxpayers will be refunded to the extent of interest on mortgage loans taken to acquire residential property. Income tax deduction implies lowering tax liability to the extent of interest rate paid for the mortgage loan.

2020:). The price at which the lenders borrow money, therefore, affects the cost of borrowing. Lenders may also, in many countries, sell the mortgage loan to other parties who are interested in receiving the stream of cash payments from the borrower, often in the form of a security (by means of a 2959:

The stress-test rate consistently increased until its peak of 5.34% in May 2018 and it was not changed until July 2019 in which for the first time in three years it decreased to 5.19%. This decision may reflect the push-back from the real-estate industry as well as the introduction of the

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In virtually all jurisdictions, specific procedures for foreclosure and sale of the mortgaged property apply, and may be tightly regulated by the relevant government. There are strict or judicial foreclosures and non-judicial foreclosures, also known as power of sale foreclosures. In some

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bank buys the property together with you. You will then slowly buy the bank's portion of the property through rental (whereby a portion of the rental goes to paying for the purchase of a part of the bank's share in the property until the property comes to your complete ownership).

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In a fixed-rate mortgage, the interest rate, remains fixed for the life (or term) of the loan. In the case of an annuity repayment scheme, the periodic payment remains the same amount throughout the loan. In the case of linear payback, the periodic payment will gradually

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meaning "death pledge" and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken through foreclosure. A mortgage can also be described as "a borrower giving consideration in the form of a collateral for a benefit (loan)".

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The final cost will be exactly the same: * when the interest rate is 2.5% and the term is 30 years than when the interest rate is 5% and the term is 15 years * when the interest rate is 5% and the term is 30 years than when the interest rate is 10% and the term is 15

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loans: if the funds recouped from sale of the mortgaged property are insufficient to cover the outstanding debt, the lender may not have recourse to the borrower after foreclosure. In other jurisdictions, the borrower remains responsible for any remaining debt.

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The loan to value ratio is considered an important indicator of the riskiness of a mortgage loan: the higher the LTV, the higher the risk that the value of the property (in case of foreclosure) will be insufficient to cover the remaining principal of the loan.

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jurisdictions, foreclosure and sale can occur quite rapidly, while in others, foreclosure may take many months or even years. In many countries, the ability of lenders to foreclose is extremely limited, and mortgage market development has been notably slower.

2994:.) There are currently over 200 significant separate financial organizations supplying mortgage loans to house buyers in Britain. The major lenders include building societies, banks, specialized mortgage corporations, insurance companies, and pension funds. 2618:

schemes. They have also proved beneficial to people who had an interest-only mortgage with no repayment vehicle and now need to settle the loan. These people can now effectively remortgage onto an interest-only lifetime mortgage to maintain continuity.

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Term: Mortgage loans generally have a maximum term, that is, the number of years after which an amortizing loan will be repaid. Some mortgage loans may have no amortization, or require full repayment of any remaining balance at a certain date, or even

1988:: final repayment of the amount outstanding, which may be a "natural redemption" at the end of the scheduled term or a lump sum redemption, typically when the borrower decides to sell the property. A closed mortgage account is said to be "redeemed". 3054:

home ownership rates comparable to the United States, but overall default rates are lower in Europe than in the United States. Mortgage loan financing relies less on securitizing mortgages and more on formal government guarantees backed by

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Moving forward, the FSA under the Mortgage Market Review (MMR) have stated there must be strict criteria on the repayment vehicle being used. As such the likes of Nationwide and other lenders have pulled out of the interest-only market.

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f he doth not pay, then the Land which is put in pledge upon condition for the payment of the money, is taken from him for ever, and so dead to him upon condition, &c. And if he doth pay the money, then the pledge is dead as to the

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have only partial amortization, meaning that amount of monthly payments due are calculated (amortized) over a certain term, but the outstanding principal balance is due at some point short of that term, and at the end of the term a

1972:: the possibility that the lender has to foreclose, repossess or seize the property under certain circumstances is essential to a mortgage loan; without this aspect, the loan is arguably no different from any other type of loan. 2150:

Since the value of the property is an important factor in understanding the risk of the loan, determining the value is a key factor in mortgage lending. The value may be determined in various ways, but the most common are:

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In many jurisdictions, it is normal for home purchases to be funded by a mortgage loan. Few individuals have enough savings or liquid funds to enable them to purchase property outright. In countries where the demand for

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during a fixed rate period are common, whilst the United States has discouraged their use. Like other European countries and the rest of the world, but unlike most of the United States, mortgages loans are usually not

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For older borrowers (typically in retirement), it may be possible to arrange a mortgage where neither the principal nor interest is repaid. The interest is rolled up with the principal, increasing the debt each year.

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over a set period of time, typically 30 years in the United States. All types of real property can be, and usually are, secured with a mortgage and bear an interest rate that is supposed to reflect the lender's risk.

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Payment amount and frequency: The amount paid per period and the frequency of payments; in some cases, the amount paid per period may change or the borrower may have the option to increase or decrease the amount

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that cost is paid, and how the loan itself is repaid. Repayment depends on locality, tax laws and prevailing culture. There are also various mortgage repayment structures to suit different types of borrower.

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Appraised or surveyed value: in most jurisdictions, some form of appraisal of the value by a licensed professional is common. There is often a requirement for the lender to obtain an official appraisal.

3089:, covered bonds market volume (covered bonds outstanding) amounted to about €2 trillion at year-end 2007 with Germany, Denmark, Spain, and France each having outstandings above €200 billion. 2393: 2170:

In most countries, a number of more or less standard measures of creditworthiness may be used. Common measures include payment to income (mortgage payments as a percentage of gross or net income);

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Actual or transaction value: this is usually taken to be the purchase price of the property. If the property is not being purchased at the time of borrowing, this information may not be available.

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payment program designed to accelerate the payoff of the loan. Similarly, a mortgage can be ended before its scheduled end by paying some or all of the remainder prematurely, called curtailment.

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There are many types of mortgages used worldwide, but several factors broadly define the characteristics of the mortgage. All of these may be subject to local regulation and legal requirements.

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Estimated value: lenders or other parties may use their own internal estimates, particularly in jurisdictions where no official appraisal procedure exists, but also in some other circumstances.

1949:. In such a situation, the initial lender is known as the mortgage originator, which then packages and sells the loan to investors. The payments from the borrower are thereafter collected by a 2932:

The most common mortgage in Canada is the five-year fixed-rate closed mortgage, as opposed to the U.S. where the most common type is the 30-year fixed-rate open mortgage. Throughout the

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is typically worked out taking the principal left at the end of each month, multiplying by the monthly rate and then subtracting the monthly payment. This is typically generated by an

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solve this problem by having the property change hands twice. In one variation, the bank will buy the house outright and then act as a landlord. The homebuyer, in addition to paying

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Interest: Interest may be fixed for the life of the loan or variable, and change at certain pre-defined periods; the interest rate can also, of course, be higher or lower.

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Both of these methods compensate the lender as if they were charging interest, but the loans are structured in a way that in name they are not, and the lender shares the

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Property: the physical residence being financed. The exact form of ownership will vary from country to country and may restrict the types of lending that are possible.

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judged based on a rate that is not lower than a stress rate set by the Bank of Canada. For high-ratio mortgage (loan to value of more than 80%), which is insured by

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occasionally, ten years of a mortgage can be fixed. From 2007 to the beginning of 2013 between 50% and 83% of new mortgages had initial periods fixed in this way.

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The most common way to repay a secured mortgage loan is to make regular payments toward the principal and interest over a set term, commonly referred to as (self)

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Prepayment: Some types of mortgages may limit or restrict prepayment of all or a portion of the loan, or require payment of a penalty to the lender for prepayment.

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Many countries have lower requirements for certain borrowers, or "no-doc" / "low-doc" lending standards that may be acceptable under certain circumstances.

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Principal: the original size of the loan, which may or may not include certain other costs; as any principal is repaid, the principal will go down in size.

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formulas. Certain details may be specific to different locations: interest may be calculated on the basis of a 360-day year, for example; interest may be

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of the lender in the property, which may entail restrictions on the use or disposal of the property. Restrictions may include requirements to purchase

310:, the other creditors will only be repaid the debts owed to them from a sale of the secured property if the mortgage lender is repaid in full first. 3232:

is an insurance policy designed to protect the mortgagee (lender) from any default by the mortgagor (borrower). It is used commonly in loans with a

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assigns, that the property has appreciated, the loan has been paid down, or any combination of both to relegate the loan-to-value under 80%.

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to deliver more affordable long-term fixed-rate mortgages, including the lessons to be learned from international markets and institutions".

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are not supported by government guarantees and face higher interest rates. Other innovations described below can affect the rates as well.

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Mortgage lending is the primary mechanism used in many countries to finance private ownership of residential and commercial property (see

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are still common, whilst the United States has discouraged their use. Unlike much of the United States, mortgage loans are usually not

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of a mortgage loan (fixed at a set interest rate for the term, or variable relative to market interest rates), there are variations in

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The US mortgage sector has been the center of major financial crises over the last century. Unsound lending practices resulted in the

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that the currency will depreciate and they will therefore need to convert higher amounts of the domestic currency to repay the loan.

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together, but if they are split traditionally the holder of the note and not the mortgage has the right to foreclose. For example,

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Mortgage loan. Total payment = loan principal + expenses (taxes and fees) + total interest. Fixed interest rates and loan term

4858: 4073: 3975: 3657: 3041:. The FCA and PRA were established in 2013 with the aim of responding to criticism of regulatory failings highlighted by the 2887: 2875: 2864: 2657:), depending on the country. The loans are typically not repaid until the borrowers are deceased, hence the age restriction. 2223: 1550: 1258: 1899:). Although the terminology and precise forms will differ from country to country, the basic components tend to be similar: 5458: 3181:, will pay a contribution towards the purchase of the property. When the last payment is made, the property changes hands. 3483: 905: 258:") to pay off the loan in the event the borrower defaults on the loan or otherwise fails to abide by its terms. The word 4226: 3677: 5483: 3001:

are more common than in the United States. This is in part because mortgage loan financing relies less on fixed income

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to raise funds to buy real estate, or by existing property owners to raise funds for any purpose while putting a

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Typically, this may lead to a higher final price for the buyers. This is because in some countries (such as the

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involves checking credit scores, debt-to-income, downpayments (deposits), assets, and assessing property value.

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is due. When interest rates are high relative to the rate on an existing seller's loan, the buyer can consider

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Mortgage loans are generally structured as long-term loans, the periodic payments for which are similar to an

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have increasing costs over time and are geared to young borrowers who expect wage increases over time.

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are common, enabling lenders to lend in a stable foreign currency, whilst the borrower takes on the

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in such transactions was removed in the Finance Act 2003 in order to facilitate Islamic mortgages.

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is the number of payments; for monthly payments over 30 years, 12 months x 30 years = 360 payments.

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The charge to the borrower depends upon the credit risk in addition to the interest rate risk. The

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Home ownership rates are comparable to the United States, but overall default rates are lower.

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is put into place which allows the lender to take possession and sell the secured property ("

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that has arisen has contributed to a significant increase in mortgage debt in the country.

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where the borrowers pay interest while the principal is paid with a life insurance policy.

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repossessing authority recover less than full and fair market value for any hard asset.

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would be, but because most mortgages occur as a condition for new loan money, the word

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may apply; and other factors. There may be legal restrictions on certain matters, and

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Mortgage borrowers can be individuals mortgaging their home or they can be businesses

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http://www.unece.org/hlm/prgm/hmm/hsg_finance/publications/housing.finance.system.pdf

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ordered to review and consider changes to the mortgage stress test in December 2019.

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therefore insufficient funds were available to repay balance at the end of the term.

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The customer-facing aspects of the residential mortgage sector are regulated by the

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allow deposits to be counted against the mortgage loan. In the UK there is also the

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typically have different interest rates, risks, and contracts than personal loans.

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than 70–80% LTV and no more than one-third of gross income going to mortgage debt.

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is the rate of interest expressed as a fraction; for a monthly payment, take the (

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Property Title Trouble in Non-Judicial Foreclosure States: The Ibanez Time Bomb?

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The mortgage industry of the United Kingdom has traditionally been dominated by

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An alternative scheme involves the bank reselling the property according to an

3185: 3086: 3033:(FCA), and lenders' financial probity is overseen by a separate regulator, the 3002: 2737: 2632: 2615: 2116: 2021: 2017: 1914: 1770: 1735: 1580: 1530: 1468: 1340: 1251: 1036: 874: 566: 536: 451: 418: 149: 3940:

Fannie Mae, Freddie Mac, and the Federal Role in the Secondary Mortgage Market

3009:) than in the United States, Denmark, and Germany, and more on retail savings 5560: 5291: 5223: 5208: 5037: 4726: 4694: 4630: 4412: 4318: 3205: 3178: 3116: 2948:

musing publicly as far back as 2012 about privatizing the Crown corporation.

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In the United States, the mortgage loan involves two separate documents: the

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in England and Wales) pledges his or her interest (right to the property) as

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Housing Finance Systems for Countries in Transition: Principles and Examples

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The mortgage industry of the United States is a major financial sector. The

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provide financing in exchange for the mortgaging of real estate collateral.

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to reduce interest rate and encourage buyers. Homeowners can also take out

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Fixed rate versus adjustable rate mortgages: evidence from euro area banks

3026:, meaning debtors are liable for any loan deficiencies after foreclosure. 2720:

add the costs of furnishings and other personal property to the mortgage.

1941:. (In some countries, particularly the United States, Lenders may also be 5488: 5342: 5164: 5159: 5032: 4867: 4798: 4708: 4703: 4689: 4584: 4341:"SDLTM28400 - Stamp Duty Land Tax Manual - HMRC internal manual - GOV.UK" 3967:

World Economic Outlook: September 2004: The Global Demographic Transition

3938: 3478: 3292: 3237: 3112: 2789: 2773: 2729: 2673: 2654: 2104: 1965: 1864: 1710: 1672: 1662: 1647: 1375: 1365: 1345: 1335: 1330: 618: 483: 428: 423: 366: 271: 251: 5443: 5316: 4759: 4745: 4740: 4546: 3342: 3319: 3309: 3198: 3193: 3061: 2906: 2856: 1844: 1489: 1437: 1390: 1360: 1355: 853: 692: 628: 307: 303: 263: 4310: 2012:, and generally borrow these funds themselves (for example, by taking 4684: 2795: 1852: 1158: 1119: 802: 591: 586: 4377:

Australian Securities & Investments Commission (ASIC) Home Loans

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allow multiple investors to share in a loan. Builders may take out

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allow for more freedom by the borrower to skip payments or prepay.

1959: 1942: 1924: 1868: 1325: 1267: 466: 299: 286:). The lender will typically be a financial institution, such as a 2740:. In the US, foreign nationals due to their unique situation face 2716:

Budget loans include taxes and insurance in the mortgage payment;

3387: 3339:– a term for a lender collateralizing non-residential properties. 2724:

mortgages allow the seller or lender to pay something similar to

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The main alternative to a principal and interest mortgage is an

5228: 4365: 3787:"New mortgage guidelines push CMHC to embrace insurance basics" 3166: 2776:

may be used as temporary financing pending a longer-term loan.

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in which they receive cash for a mortgage debt on their house.

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and time delays that may be involved in certain circumstances.

1930: 1408: 1193: 478: 4836: 3587:. Certified Ramsey Solutions Master Financial Coach (Updated). 3542:"What Is an Underwriter: The Unseen Approver of Your Mortgage" 3260: 5184: 3189: 3163: 2820:

compared German, US, and Danish mortgage systems. The German

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the roll-up effect (compounding) of interest on traditional

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that can make it easier for a seller to sell a property. A

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In some countries with currencies that tend to depreciate,

1934: 1876: 1700: 1535: 1413: 1311: 1275: 1023: 990: 601: 541: 287: 235: 227: 3993:"Best fixed rate mortgages: two, three, five and 10 years" 3746:"Comparing Canada and U.S. Housing Finance Systems - CMHC" 2388:{\displaystyle A=P\cdot {\frac {r(1+r)^{n}}{(1+r)^{n}-1}}} 2145: 1921:, or pay off outstanding debt before selling the property. 210: 2855:, to foster mortgage lending, construction and encourage 934: 207: 204: 4170:(Report). European Central Bank. October 2019. p. 2 242:" on the borrower's property through a process known as 30:

For mortgages in general and their legal structure, see

4293:

Farooq, Mohammad O.; Selim, Mohammad (September 2019).

2783: 2005:

possible and common worldwide and within each country.

1978:: legal completion of the mortgage deed, and hence the 1933:(also called a "mortgagee"): any lender, but usually a 2942:

Office of the Superintendent of Financial Institutions

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has payments made every two weeks instead of monthly.

1834: 3765:"The Residential Mortgage Market in Canada: A Primer" 3350:– Relating to the U.S. Federal Housing Administration 2476: 2450: 2428: 2406: 2311: 2231:

In addition to the two standard means of setting the

1867:(limitation) on the right to the property just as an 4091:"U.K. Scraps FSA, Reversing System Set Up by Brown" 3503:

Mortgage Servicing: Making Sure Your Payments Count

2189: 1962:: a financial charge for use of the lender's money. 198: 195: 77:. Unsourced material may be challenged and removed. 4023: 3991: 2913:Multistate Fixed-Rate Note 3200 and also separate 2530: 2482: 2456: 2434: 2412: 2387: 2126: 1883:. As with other types of loans, mortgages have an 2667: 5558: 4258:"Housing Finance Review: analysis and proposals" 3303: 3215:involved in the transaction with the homebuyer. 2623:as more retirees require finance in retirement. 1843:, a mortgage occurs when an owner (usually of a 4143:"Financial Services Bill receives Royal Assent" 4025:"Demand for fixed mortgages hits all-time high" 3970:. International Monetary Fund. pp. 81–83. 3330: 2962:first-time home buyer incentive program (FTHBI) 2078:The two basic types of amortized loans are the 2008:Lenders provide funds against property to earn 4263:. HM Treasury. March 2008 – via the BBC. 4061:Forest Products Annual Market Review 2008-2009 4054: 3805:"New mortgage stress test rules kick in today" 2507:or is often related to the type of plan used: 1945:who own an interest in the mortgage through a 238:on the property being mortgaged. The loan is " 5499:List of housing markets by real estate prices 4852: 4615: 4397: 4213:United Nations Economic Commission for Europe 3208:, at a price higher than the original price. 3107:Mortgage rates historical trends 1986 to 2010 2113:mortgage origination and underwriting process 1810: 1255:be sold to investors in small denominations. 1230: 3090: 3059: 2511:if an endowment policy is used, similarly a 2202: 4292: 4109: 3658:"Homes: Slow-market savings – the 'buy-down 3516:"How Long Does Mortgage Underwriting Take?" 3261:General, or related to more than one nation 2569:. Unsourced material may be challenged and 2280:may specify or prohibit certain practices. 1115:International Financial Reporting Standards 1080:Separation of investment and retail banking 302:, which means that if the borrower becomes 34:. For mortgage loans secured on ships, see 5539: 4859: 4845: 4622: 4608: 4404: 4390: 2843:Mortgage underwriting in the United States 2165: 1817: 1803: 1237: 1223: 4371:Mortgages: For Home Buyers and Homeowners 4299:Thunderbird International Business Review 3784: 3560:Canadian Mortgage and Housing Corporation 2589:Learn how and when to remove this message 2243: 153:30 year mortgage of 4% on $ 250,000 loan 137:Learn how and when to remove this message 4276:"Denmark Offers a Model Mortgage Market" 4135: 3956: 3954: 3952: 3950: 3929: 3927: 3925: 3923: 3921: 3919: 3917: 3915: 3913: 3911: 3895: 3869: 3169:law prohibits the payment or receipt of 3102: 2861:Government National Mortgage Association 2772:which cover several properties at once. 2641:These arrangements are variously called 2222: 2218: 2035: 1863:for a loan. Therefore, a mortgage is an 1257: 148: 4244:"Press Releases - PR-60-2008 7/15/2008" 3633:"Are Mortgage Assumptions a Good Deal?" 3236:over 80%, and employed in the event of 2982:Mortgage industry of the United Kingdom 2954:Canada Mortgage and Housing Corporation 2927:Canada Mortgage and Housing Corporation 2811: 2146:Value: appraised, estimated, and actual 1829: 14: 5559: 3578: 3446:– applicable legal filing requirements 2869:Federal Home Loan Mortgage Corporation 2839:Mortgage industry of the United States 2672:In the U.S. a partial amortization or 2050: 4840: 4603: 4385: 4273: 4196: 3947: 3908: 3843: 3599:"How do HECM Reverse Mortgages Work?" 3218: 3048: 2876:National Mortgage Crisis of the 1930s 2865:Federal National Mortgage Association 5526: 4082: 3896:Zochodne, Geoff (13 December 2019). 3762: 3581:"Definition of Mortgage Curtailment" 3556:"Who Needs Mortgage Loan Insurance?" 3362:– a type of mortgage for urban areas 3152: 2917:mortgage forms which vary by state. 2794:In most jurisdictions, a lender may 2784:Foreclosure and non-recourse lending 2626: 2567:adding citations to reliable sources 2534: 2420:is the periodic amortization payment 1266:and 2 loan term) = loan principal + 75:adding citations to reliable sources 46: 3484:Commentaries on the Laws of England 3070:, except Denmark and Germany where 2260:in the UK. A mortgage is a form of 1835:Basic concepts and legal regulation 24: 5484:Undergraduate real estate programs 2964:by the Canadian government in the 2028:estate assets; and the financial, 1875:has become the generic term for a 1154:Private equity and venture capital 1065:Bank for International Settlements 25: 5583: 5282:Investment rating for real estate 4629: 4411: 4355: 4274:Soros, George (10 October 2008). 3870:Zochodne, Geoff (June 11, 2019). 3785:Greenwood, John (14 April 2014). 2975: 2272:daily, yearly, or semi-annually; 1199:Business and Economics portal 5538: 5525: 5513: 5512: 4088: 3646:Mastering Real Estate Principals 3579:Bodine, Alicia (April 5, 2019). 3477: 3425: 3398: 3098: 2832: 2686:Graduated payment mortgage loans 2539: 2494: 2442:is the principal amount borrowed 2190:Standard or conforming mortgages 2112: 2000:and calculated according to the 1295: 1262:Mortgage loan. Total payment (3 1204: 1192: 787:Base erosion and profit shifting 332: 191: 51: 4866: 4531:graduated payment mortgage loan 4443:/ variable-rate / floating rate 4333: 4286: 4267: 4250: 4236: 4190:"Covered Bond Outstanding 2007" 4182: 4157: 4145:. HM Treasury. 19 December 2012 4048: 4036:from the original on 2022-01-11 4016: 4004:from the original on 2022-01-11 3984: 3889: 3863: 3837: 3819: 3797: 3778: 3756: 3738: 3720: 3708: 3696: 3683: 3671: 3651: 3638: 3420:Mortgage Investment Corporation 3035:Prudential Regulation Authority 2882:of the 1980s and 1990s and the 2531:Interest-only lifetime mortgage 2127:Loan to value and down payments 62:needs additional citations for 5439:Graduate real estate education 4884:Tertiary sector of the economy 4821:Alternative financial services 4117:"Regulatory Reform Background" 3626: 3591: 3572: 3548: 3534: 3508: 3495: 3471: 3457: 3392:Department of Veterans Affairs 2867:(known as Fannie Mae) and the 2818:Economic Commission for Europe 2699:assuming the seller's mortgage 2668:Interest and partial principal 2662:Federal Housing Administration 2367: 2354: 2343: 2330: 2183:loss or other loss of income. 1278:) + total interest to be paid. 547:Collateralised debt obligation 457:Bull (stock market speculator) 280:mortgaging commercial property 27:Loan secured using real estate 13: 1: 4225:. ECE/HBP/138. Archived from 3844:Evans, Pete (July 19, 2019). 3450: 3304:Related to the United Kingdom 3043:financial crisis of 2007–2008 2859:. These programs include the 2853:government sponsored entities 2851:created several programs, or 2734:Shared appreciation mortgages 2680: 893:Final consumption expenditure 230:used either by purchasers of 5393:Real estate investment trust 4998:Extraterrestrial real estate 4755:Tax refund anticipation loan 4645:Annual percentage rate (APR) 4504:shared appreciation mortgage 3331:Related to the United States 2966:2019 Canadian federal budget 2603:Financial Services Authority 1839:According to Anglo-American 7: 5398:Real property administrator 5388:Real estate investment club 4650:Effective annual rate (EAR) 4066:United Nations Publications 3962:International Monetary Fund 3935:Congressional Budget Office 3379:– U.S. mortgage terminology 3373:– U.S. mortgage terminology 3360:Location Efficient Mortgage 3255: 3139: 3037:(PRA) which is part of the 3031:Financial Conduct Authority 2863:(known as Ginnie Mae), the 10: 5588: 5055:Private equity real estate 3383:Predatory mortgage lending 3222: 3156: 3007:mortgage-backed securities 2979: 2836: 2787: 2630: 2517:Individual Savings Account 2505:investment-backed mortgage 2209:foreign currency mortgages 2130: 2039: 1125:Professional certification 723:Enterprise risk management 507:Offshore financial centres 29: 5507: 5411: 5330: 5237: 5109: 5073: 5003:International real estate 4973: 4892: 4874: 4811: 4768: 4717: 4663: 4637: 4571: 4558:foreign national mortgage 4553:foreign currency mortgage 4539: 4513: 4450: 4428: 4419: 3827:"Mortgage Qualifier Tool" 3522:. SFGate. 22 October 2012 2920: 2886:of 2007 which led to the 2816:A study issued by the UN 2742:Foreign National mortgage 2690:Balloon payment mortgages 2203:Foreign currency mortgage 1746:Guaranteed minimum income 1541:Diversification (finance) 1070:Financial Stability Board 170: Total interest paid 40:Mortgage (disambiguation) 4495:balloon payment mortgage 4441:adjustable-rate mortgage 2884:subprime mortgage crisis 2871:(known as Freddie Mac). 2651:equity release mortgages 2278:consumer protection laws 2084:adjustable-rate mortgage 1947:mortgage-backed security 1424:Employee stock ownership 1371:Refund anticipation loan 759:Mergers and acquisitions 5197:Real estate transaction 5086:Real estate development 4527:, mortgage accelerator) 3644:Cortesi, G. R. (2003). 3390:– Relating to the U.S. 3325:UK mortgage terminology 3277:Mortgage discrimination 3132:editorial promoted the 3129:The Wall Street Journal 3072:asset-backed securities 2999:variable-rate mortgages 2888:2010 foreclosure crisis 2880:savings and loan crisis 2766:Participation mortgages 2297:amortization calculator 2166:Payment and debt ratios 2086:(ARM) (also known as a 1847:/ freehold interest in 1341:Unsecured personal loan 220:civil law jurisdictions 176: Remaining balance 5297:Real estate derivative 5257:Effective gross income 5023:Healthcare real estate 4579:Annual percentage rate 4472:interest-only mortgage 3405:Danish mortgage market 3337:Commercial lender (US) 3134:Danish mortgage market 3108: 3091: 3060: 2911:standard form contract 2501:interest-only mortgage 2484: 2458: 2436: 2414: 2389: 2244:Principal and interest 2228: 2092:variable rate mortgage 1781:Universal basic income 1658:Portfolio optimization 1633:Investment performance 1504:Alternative investment 1282: 561:certificate of deposit 178: 38:. For other uses, see 5454:Industry trade groups 5358:Exclusive buyer agent 5312:Real estate valuation 5302:Real estate economics 5262:Gross rent multiplier 5091:Real estate investing 4993:Corporate Real Estate 3635:. Mortgage Professor. 3585:budgeting.thenest.com 3520:homeguides.sfgate.com 3465:"Mortgage Calculator" 3106: 2631:Further information: 2485: 2459: 2437: 2415: 2390: 2293:amortization schedule 2254:in the U.S. and as a 2226: 2219:Repaying the mortgage 2065:negative amortization 2042:Mortgage underwriting 2036:Mortgage underwriting 1939:financial institution 1887:and are scheduled to 1261: 512:Conduit and sink OFCs 152: 5272:Highest and best use 5238:Economics, financing 5202:Real estate contract 5096:Real estate flipping 5065:Residential property 5008:Lease administration 4960:United Arab Emirates 4000:. 26 February 2014. 3831:Government of Canada 3715:Security Instruments 3126:'s October 10, 2008 3076:Prepayment penalties 3019:Prepayment penalties 2812:National differences 2762:Commercial mortgages 2563:improve this section 2527:the interest rate). 2513:personal equity plan 2474: 2448: 2426: 2404: 2309: 2274:prepayment penalties 1897:commercial mortgages 1830:Mortgage loan basics 1786:Volatility (finance) 1756:Risk-return spectrum 1598:Fundamental analysis 1464:Defined contribution 1264:fixed interest rates 738:Financial statements 718:Credit rating agency 643:Repurchase agreement 284:investment portfolio 246:. This means that a 244:mortgage origination 164: Principal paid 71:improve this article 5252:Capitalization rate 5247:Asset-based lending 5081:Property management 4986:Commercial building 4981:Commercial property 4794:Personal bankruptcy 4563:wraparound mortgage 4436:fixed-rate mortgage 4280:Wall Street Journal 3728:"About CMHC - CMHC" 3703:Single-family notes 3693:. Albany Law School 3689:Renuart E. (2012). 3544:. 26 February 2014. 3366:Mortgage assumption 3354:Fixed rate mortgage 3267:Commercial mortgage 3234:loan-to-value ratio 3045:and its aftermath. 2940:In April 2014, the 2915:security instrument 2703:wraparound mortgage 2266:time value of money 2133:Loan-to-value ratio 2080:fixed rate mortgage 2051:Mortgage loan types 2002:time value of money 1731:Financial inclusion 1726:Financial deepening 1628:Investment advisory 1400:Employment contract 1174:Accounting scandals 1164:Stock market bubble 884:Government spending 841:Employment contract 793:Corporate tax haven 552:Credit default swap 5479:Real estate trends 5383:Real estate broker 5353:Chartered Surveyor 5307:Real estate bubble 5287:Mortgage insurance 5120:Adverse possession 5043:Luxury real estate 5018:Garden real estate 4826:Financial literacy 4476:endowment mortgage 4462:Repayment mortgage 4429:Interest rate type 4422:Financial literacy 3614:Unknown parameter 3356:calculations (USA) 3282:No Income No Asset 3272:Mortgage analytics 3230:Mortgage insurance 3225:Mortgage insurance 3219:Mortgage insurance 3111:On July 28, 2008, 3109: 3049:Continental Europe 2988:building societies 2849:federal government 2756:endowment mortgage 2748:Flexible mortgages 2647:lifetime mortgages 2519:(ISA) mortgage or 2509:endowment mortgage 2480: 2454: 2432: 2410: 2385: 2286:bi-weekly mortgage 2257:repayment mortgage 2229: 2030:interest rate risk 1919:mortgage insurance 1766:Structured product 1706:Citizen's dividend 1653:Passive management 1381:Debt consolidation 1283: 1169:Stock market crash 1019:Investment banking 1009:Fractional-reserve 974:Warrant of payment 923:Government revenue 846:Financial planning 764:Structured finance 262:is derived from a 179: 5554: 5553: 5192:Property abstract 5175:Land registration 5135:Concurrent estate 5060:Real estate owned 5050:Off-plan property 5028:Vacation property 5013:Niche real estate 4834: 4833: 4781:Credit counseling 4597: 4596: 4521:flexible mortgage 4468:Repayment at term 4311:10.1002/tie.22013 4075:978-92-1-117007-8 3977:978-1-58906-406-5 3763:Crawford, Allan. 3440:– a legal concept 3377:pre-qualification 3315:Mortgage cashback 3175:Islamic mortgages 3159:Islamic economics 3153:Islamic countries 3074:are also common. 2711:biweekly mortgage 2643:reverse mortgages 2627:Reverse mortgages 2599: 2598: 2591: 2483:{\displaystyle n} 2457:{\displaystyle r} 2435:{\displaystyle P} 2413:{\displaystyle A} 2383: 2301:following formula 1911:security interest 1851:, but frequently 1827: 1826: 1499:Active management 1429:Employee benefits 1386:Debt rescheduling 1247: 1246: 1137: 1136: 1087: 1086: 1075:Deposit insurance 981: 980: 815: 814: 713:Corporate finance 708:Capital structure 703:Capital budgeting 638:Performance bonds 519: 518: 502:Financial centres 462:Financial planner 362:Asset (economics) 147: 146: 139: 121: 16:(Redirected from 5579: 5542: 5541: 5529: 5528: 5516: 5515: 5459:Investment firms 5378:Property manager 5277:Home equity loan 5180:Leasehold estate 5140:Conditional sale 4861: 4854: 4847: 4838: 4837: 4816:Personal finance 4731:Home equity loan 4673:Credit card debt 4624: 4617: 4610: 4601: 4600: 4540:Other variations 4514:Variable payment 4486:reverse mortgage 4464:/ self-amortized 4406: 4399: 4392: 4383: 4382: 4349: 4348: 4337: 4331: 4330: 4290: 4284: 4283: 4271: 4265: 4264: 4262: 4254: 4248: 4247: 4240: 4234: 4233: 4231: 4210: 4200: 4194: 4193: 4186: 4180: 4179: 4177: 4175: 4169: 4161: 4155: 4154: 4152: 4150: 4139: 4133: 4132: 4130: 4128: 4113: 4107: 4106: 4104: 4102: 4086: 4080: 4079: 4052: 4046: 4045: 4043: 4041: 4027: 4020: 4014: 4013: 4011: 4009: 3995: 3988: 3982: 3981: 3958: 3945: 3944: 3931: 3906: 3905: 3893: 3887: 3886: 3884: 3882: 3867: 3861: 3860: 3858: 3856: 3841: 3835: 3834: 3823: 3817: 3816: 3814: 3812: 3801: 3795: 3794: 3782: 3776: 3775: 3769: 3760: 3754: 3753: 3742: 3736: 3735: 3724: 3718: 3712: 3706: 3700: 3694: 3687: 3681: 3675: 3669: 3661: 3655: 3649: 3642: 3636: 3630: 3624: 3623: 3617: 3612: 3610: 3602: 3595: 3589: 3588: 3576: 3570: 3569: 3567: 3566: 3552: 3546: 3545: 3538: 3532: 3531: 3529: 3527: 3512: 3506: 3499: 3493: 3492: 3475: 3469: 3468: 3461: 3412:- equivalent in 3288:Nonrecourse debt 3206:installment plan 3094: 3080:nonrecourse debt 3065: 3024:nonrecourse debt 3005:assets (such as 2934:financial crisis 2778:Hard money loans 2752:Offset mortgages 2707:seller financing 2594: 2587: 2583: 2580: 2574: 2543: 2535: 2521:pension mortgage 2515:(PEP) mortgage, 2489: 2487: 2486: 2481: 2463: 2461: 2460: 2455: 2441: 2439: 2438: 2433: 2419: 2417: 2416: 2411: 2394: 2392: 2391: 2386: 2384: 2382: 2375: 2374: 2352: 2351: 2350: 2325: 2121:subprime lending 1982:of the mortgage. 1879:secured by such 1819: 1812: 1805: 1688: 1678:Target date fund 1643:Investor profile 1638:Investment style 1623:Impact investing 1608:Growth investing 1546:Equity (finance) 1419:Salary packaging 1299: 1289:Personal finance 1285: 1284: 1239: 1232: 1225: 1211:Money portal 1209: 1208: 1207: 1197: 1196: 1147:Economic history 1109: 1108: 1042: 1041: 940:Deficit spending 914:Transfer payment 880: 879: 808:Transfer pricing 754:Leveraged buyout 728:Enterprise value 682: 681: 597:Letter of credit 582:Futures contract 415: 413:Over-the-counter 402:Foreign exchange 349: 348: 336: 313: 312: 296:building society 222:known also as a 217: 216: 213: 212: 209: 206: 203: 200: 197: 175: 169: 163: 158: Total cost 157: 142: 135: 131: 128: 122: 120: 79: 55: 47: 21: 5587: 5586: 5582: 5581: 5580: 5578: 5577: 5576: 5557: 5556: 5555: 5550: 5503: 5407: 5326: 5267:Hard money loan 5239: 5233: 5214:Rent regulation 5105: 5069: 4969: 4888: 4870: 4865: 4835: 4830: 4807: 4785:Management plan 4764: 4713: 4659: 4633: 4628: 4598: 4593: 4567: 4535: 4525:offset mortgage 4509: 4446: 4424: 4415: 4410: 4358: 4353: 4352: 4345:www.hmrc.gov.uk 4339: 4338: 4334: 4291: 4287: 4272: 4268: 4260: 4256: 4255: 4251: 4242: 4241: 4237: 4229: 4223: 4208: 4202: 4201: 4197: 4188: 4187: 4183: 4173: 4171: 4167: 4163: 4162: 4158: 4148: 4146: 4141: 4140: 4136: 4126: 4124: 4115: 4114: 4110: 4100: 4098: 4097:. Bloomberg L.P 4089:Vina, Gonzalo. 4087: 4083: 4076: 4053: 4049: 4039: 4037: 4032:. 17 May 2013. 4022: 4021: 4017: 4007: 4005: 3990: 3989: 3985: 3978: 3959: 3948: 3932: 3909: 3894: 3890: 3880: 3878: 3868: 3864: 3854: 3852: 3842: 3838: 3825: 3824: 3820: 3810: 3808: 3803: 3802: 3798: 3783: 3779: 3772:bankofcanada.ca 3767: 3761: 3757: 3744: 3743: 3739: 3726: 3725: 3721: 3713: 3709: 3701: 3697: 3688: 3684: 3676: 3672: 3659: 3656: 3652: 3643: 3639: 3631: 3627: 3615: 3613: 3604: 3603: 3597: 3596: 3592: 3577: 3573: 3564: 3562: 3554: 3553: 3549: 3540: 3539: 3535: 3525: 3523: 3514: 3513: 3509: 3500: 3496: 3476: 3472: 3463: 3462: 3458: 3453: 3434:– legal aspects 3428: 3401: 3333: 3306: 3298:Second Mortgage 3263: 3258: 3227: 3221: 3213:financial risks 3161: 3155: 3142: 3101: 3051: 3039:Bank of England 2992:demutualisation 2984: 2978: 2925:In Canada, the 2923: 2899:promissory note 2845: 2837:Main articles: 2835: 2814: 2792: 2786: 2695:balloon payment 2683: 2670: 2635: 2629: 2595: 2584: 2578: 2575: 2560: 2544: 2533: 2497: 2475: 2472: 2471: 2449: 2446: 2445: 2427: 2424: 2423: 2405: 2402: 2401: 2370: 2366: 2353: 2346: 2342: 2326: 2324: 2310: 2307: 2306: 2246: 2221: 2205: 2192: 2168: 2148: 2135: 2129: 2117:Jumbo mortgages 2053: 2044: 2038: 2010:interest income 1837: 1832: 1823: 1776:Systematic risk 1761:Social dividend 1721:Economic bubble 1686: 1618:Hedge (finance) 1603:Government bond 1556:Estate planning 1486:Personal budget 1480: 1476:Social security 1459:Defined benefit 1452: 1279: 1243: 1205: 1203: 1191: 1179: 1178: 1149: 1139: 1138: 1130:Fund governance 1106: 1089: 1088: 1055:Banking license 1046:Bank regulation 1033: 1004:Deposit account 993: 983: 982: 969:Non-tax revenue 965: 944: 910: 877: 867: 866: 863: 827: 817: 816: 769:Venture capital 733:Risk management 679: 669: 668: 667: 658:Syndicated loan 634: 531: 521: 520: 411: 346: 248:legal mechanism 194: 190: 177: 173: 171: 167: 165: 161: 159: 155: 143: 132: 126: 123: 80: 78: 68: 56: 43: 28: 23: 22: 15: 12: 11: 5: 5585: 5575: 5574: 5569: 5552: 5551: 5549: 5548: 5545:List of topics 5535: 5522: 5508: 5505: 5504: 5502: 5501: 5496: 5494:Urban planning 5491: 5486: 5481: 5476: 5474:Property cycle 5471: 5466: 5461: 5456: 5451: 5446: 5441: 5436: 5434:Gentrification 5431: 5426: 5421: 5415: 5413: 5409: 5408: 5406: 5405: 5400: 5395: 5390: 5385: 5380: 5375: 5373:Moving company 5370: 5365: 5360: 5355: 5350: 5345: 5340: 5334: 5332: 5328: 5327: 5325: 5324: 5319: 5314: 5309: 5304: 5299: 5294: 5289: 5284: 5279: 5274: 5269: 5264: 5259: 5254: 5249: 5243: 5241: 5235: 5234: 5232: 5231: 5226: 5221: 5216: 5211: 5206: 5205: 5204: 5194: 5189: 5188: 5187: 5177: 5172: 5167: 5162: 5157: 5155:Eminent domain 5152: 5147: 5142: 5137: 5132: 5127: 5125:Chain of title 5122: 5116: 5114: 5113:and regulation 5107: 5106: 5104: 5103: 5098: 5093: 5088: 5083: 5077: 5075: 5071: 5070: 5068: 5067: 5062: 5057: 5052: 5047: 5046: 5045: 5040: 5035: 5030: 5025: 5020: 5010: 5005: 5000: 4995: 4990: 4989: 4988: 4977: 4975: 4971: 4970: 4968: 4967: 4965:United Kingdom 4962: 4957: 4952: 4947: 4942: 4937: 4932: 4927: 4922: 4917: 4912: 4907: 4902: 4896: 4894: 4890: 4889: 4887: 4886: 4881: 4875: 4872: 4871: 4864: 4863: 4856: 4849: 4841: 4832: 4831: 4829: 4828: 4823: 4818: 4812: 4809: 4808: 4806: 4805: 4796: 4791: 4778: 4772: 4770: 4766: 4765: 4763: 4762: 4757: 4752: 4746:Car title loan 4743: 4738: 4723: 4721: 4715: 4714: 4712: 4711: 4706: 4701: 4699:Signature loan 4692: 4687: 4682: 4681: 4680: 4669: 4667: 4661: 4660: 4658: 4657: 4655:Credit history 4652: 4647: 4641: 4639: 4635: 4634: 4627: 4626: 4619: 4612: 4604: 4595: 4594: 4592: 4591: 4582: 4575: 4573: 4569: 4568: 4566: 4565: 4560: 4555: 4550: 4543: 4541: 4537: 4536: 4534: 4533: 4528: 4517: 4515: 4511: 4510: 4508: 4507: 4500:equity release 4497: 4488: 4479: 4465: 4454: 4452: 4451:Repayment type 4448: 4447: 4445: 4444: 4438: 4432: 4430: 4426: 4425: 4420: 4417: 4416: 4409: 4408: 4401: 4394: 4386: 4380: 4379: 4374: 4368: 4357: 4356:External links 4354: 4351: 4350: 4332: 4305:(5): 685–696. 4285: 4266: 4249: 4235: 4232:on 2012-10-15. 4221: 4195: 4181: 4156: 4134: 4108: 4081: 4074: 4068:. p. 42. 4056:United Nations 4047: 4015: 3983: 3976: 3946: 3907: 3902:Financial Post 3888: 3876:Financial Post 3862: 3836: 3833:. 11 May 2012. 3818: 3796: 3791:Financial Post 3777: 3755: 3737: 3719: 3707: 3695: 3682: 3670: 3650: 3637: 3625: 3590: 3571: 3547: 3533: 3507: 3494: 3470: 3455: 3454: 3452: 3449: 3448: 3447: 3441: 3438:Mechanics lien 3435: 3427: 3424: 3423: 3422: 3417: 3407: 3400: 3397: 3396: 3395: 3385: 3380: 3374: 3368: 3363: 3357: 3351: 3345: 3340: 3332: 3329: 3328: 3327: 3322: 3317: 3312: 3305: 3302: 3301: 3300: 3295: 3290: 3285: 3279: 3274: 3269: 3262: 3259: 3257: 3254: 3223:Main article: 3220: 3217: 3186:United Kingdom 3157:Main article: 3154: 3151: 3141: 3138: 3100: 3097: 3087:European Union 3050: 3047: 2980:Main article: 2977: 2976:United Kingdom 2974: 2922: 2919: 2909:promulgates a 2857:home ownership 2834: 2831: 2813: 2810: 2788:Main article: 2785: 2782: 2738:equity release 2736:are a form of 2682: 2679: 2669: 2666: 2653:(referring to 2633:Equity release 2628: 2625: 2616:equity release 2597: 2596: 2547: 2545: 2538: 2532: 2529: 2496: 2493: 2492: 2491: 2479: 2469: 2453: 2443: 2431: 2421: 2409: 2381: 2378: 2373: 2369: 2365: 2362: 2359: 2356: 2349: 2345: 2341: 2338: 2335: 2332: 2329: 2323: 2320: 2317: 2314: 2245: 2242: 2220: 2217: 2204: 2201: 2191: 2188: 2172:debt to income 2167: 2164: 2163: 2162: 2159: 2156: 2147: 2144: 2131:Main article: 2128: 2125: 2109: 2108: 2100: 2076: 2075: 2072: 2068: 2060: 2052: 2049: 2040:Main article: 2037: 2034: 2022:securitization 1990: 1989: 1983: 1973: 1963: 1957: 1954: 1928: 1922: 1915:home insurance 1904: 1836: 1833: 1831: 1828: 1825: 1824: 1822: 1821: 1814: 1807: 1799: 1796: 1795: 1794: 1793: 1788: 1783: 1778: 1773: 1771:Sustainability 1768: 1763: 1758: 1753: 1748: 1743: 1738: 1736:Financial risk 1733: 1728: 1723: 1718: 1713: 1708: 1703: 1698: 1690: 1689: 1683: 1682: 1681: 1680: 1675: 1670: 1665: 1660: 1655: 1650: 1645: 1640: 1635: 1630: 1625: 1620: 1615: 1610: 1605: 1600: 1595: 1594: 1593: 1588: 1583: 1578: 1573: 1563: 1558: 1553: 1548: 1543: 1538: 1533: 1531:Bond (finance) 1528: 1527: 1526: 1521: 1516: 1506: 1501: 1493: 1492: 1482: 1481: 1479: 1478: 1473: 1472: 1471: 1469:Social pension 1466: 1461: 1453: 1451: 1450: 1444: 1441: 1440: 1434: 1433: 1432: 1431: 1426: 1421: 1416: 1411: 1403: 1402: 1396: 1395: 1394: 1393: 1388: 1383: 1378: 1373: 1368: 1363: 1358: 1353: 1348: 1343: 1338: 1333: 1328: 1323: 1315: 1314: 1301: 1300: 1292: 1291: 1252:home ownership 1245: 1244: 1242: 1241: 1234: 1227: 1219: 1216: 1215: 1214: 1213: 1201: 1189: 1181: 1180: 1177: 1176: 1171: 1166: 1161: 1156: 1150: 1145: 1144: 1141: 1140: 1135: 1134: 1133: 1132: 1127: 1122: 1117: 1107: 1095: 1094: 1091: 1090: 1085: 1084: 1083: 1082: 1077: 1072: 1067: 1062: 1057: 1049: 1048: 1040: 1039: 1037:Lists of banks 1032: 1031: 1026: 1021: 1016: 1011: 1006: 1001: 995: 994: 989: 988: 985: 984: 979: 978: 977: 976: 971: 966: 964: 963: 958: 947: 945: 943: 942: 937: 931: 926: 925: 919: 918: 917: 916: 911: 909: 908: 906:Redistribution 903: 897: 895: 887: 886: 878: 873: 872: 869: 868: 865: 864: 862: 861: 856: 850: 848: 843: 838: 828: 823: 822: 819: 818: 813: 812: 811: 810: 805: 800: 795: 790: 781: 780: 774: 773: 772: 771: 766: 761: 756: 748: 747: 743: 742: 741: 740: 735: 730: 725: 720: 715: 710: 705: 700: 695: 687: 686: 680: 675: 674: 671: 670: 666: 665: 660: 655: 650: 645: 640: 633: 632: 626: 621: 611: 610: 609: 604: 599: 594: 589: 584: 579: 574: 569: 564: 554: 549: 544: 539: 533: 532: 527: 526: 523: 522: 517: 516: 515: 514: 509: 504: 496: 495: 489: 488: 487: 486: 481: 476: 475: 474: 464: 459: 454: 452:Angel investor 446: 445: 439: 438: 437: 436: 431: 426: 421: 419:Private equity 416: 409: 404: 399: 394: 389: 384: 379: 374: 369: 364: 356: 355: 347: 342: 341: 338: 337: 329: 328: 322: 321: 172: 166: 160: 154: 145: 144: 59: 57: 50: 26: 9: 6: 4: 3: 2: 5584: 5573: 5570: 5568: 5565: 5564: 5562: 5547: 5546: 5536: 5534: 5533: 5523: 5521: 5520: 5510: 5509: 5506: 5500: 5497: 5495: 5492: 5490: 5487: 5485: 5482: 5480: 5477: 5475: 5472: 5470: 5467: 5465: 5462: 5460: 5457: 5455: 5452: 5450: 5447: 5445: 5442: 5440: 5437: 5435: 5432: 5430: 5427: 5425: 5422: 5420: 5417: 5416: 5414: 5410: 5404: 5401: 5399: 5396: 5394: 5391: 5389: 5386: 5384: 5381: 5379: 5376: 5374: 5371: 5369: 5366: 5364: 5361: 5359: 5356: 5354: 5351: 5349: 5346: 5344: 5341: 5339: 5336: 5335: 5333: 5329: 5323: 5320: 5318: 5315: 5313: 5310: 5308: 5305: 5303: 5300: 5298: 5295: 5293: 5292:Mortgage loan 5290: 5288: 5285: 5283: 5280: 5278: 5275: 5273: 5270: 5268: 5265: 5263: 5260: 5258: 5255: 5253: 5250: 5248: 5245: 5244: 5242: 5240:and valuation 5236: 5230: 5227: 5225: 5224:Torrens title 5222: 5220: 5217: 5215: 5212: 5210: 5209:Real property 5207: 5203: 5200: 5199: 5198: 5195: 5193: 5190: 5186: 5183: 5182: 5181: 5178: 5176: 5173: 5171: 5168: 5166: 5163: 5161: 5158: 5156: 5153: 5151: 5148: 5146: 5143: 5141: 5138: 5136: 5133: 5131: 5128: 5126: 5123: 5121: 5118: 5117: 5115: 5112: 5108: 5102: 5099: 5097: 5094: 5092: 5089: 5087: 5084: 5082: 5079: 5078: 5076: 5072: 5066: 5063: 5061: 5058: 5056: 5053: 5051: 5048: 5044: 5041: 5039: 5038:Golf property 5036: 5034: 5031: 5029: 5026: 5024: 5021: 5019: 5016: 5015: 5014: 5011: 5009: 5006: 5004: 5001: 4999: 4996: 4994: 4991: 4987: 4984: 4983: 4982: 4979: 4978: 4976: 4972: 4966: 4963: 4961: 4958: 4956: 4953: 4951: 4948: 4946: 4943: 4941: 4938: 4936: 4933: 4931: 4928: 4926: 4923: 4921: 4918: 4916: 4913: 4911: 4908: 4906: 4903: 4901: 4898: 4897: 4895: 4891: 4885: 4882: 4880: 4877: 4876: 4873: 4869: 4862: 4857: 4855: 4850: 4848: 4843: 4842: 4839: 4827: 4824: 4822: 4819: 4817: 4814: 4813: 4810: 4804: 4800: 4797: 4795: 4792: 4790: 4786: 4782: 4779: 4777: 4776:Consolidation 4774: 4773: 4771: 4767: 4761: 4758: 4756: 4753: 4751: 4747: 4744: 4742: 4739: 4736: 4732: 4728: 4727:Mortgage loan 4725: 4724: 4722: 4720: 4716: 4710: 4707: 4705: 4702: 4700: 4696: 4695:Personal loan 4693: 4691: 4688: 4686: 4683: 4679: 4676: 4675: 4674: 4671: 4670: 4668: 4666: 4662: 4656: 4653: 4651: 4648: 4646: 4643: 4642: 4640: 4636: 4632: 4631:Consumer debt 4625: 4620: 4618: 4613: 4611: 4606: 4605: 4602: 4590: 4586: 4583: 4580: 4577: 4576: 4574: 4570: 4564: 4561: 4559: 4556: 4554: 4551: 4548: 4545: 4544: 4542: 4538: 4532: 4529: 4526: 4522: 4519: 4518: 4516: 4512: 4505: 4501: 4498: 4496: 4492: 4489: 4487: 4483: 4480: 4477: 4473: 4469: 4466: 4463: 4459: 4456: 4455: 4453: 4449: 4442: 4439: 4437: 4434: 4433: 4431: 4427: 4423: 4418: 4414: 4413:Mortgage loan 4407: 4402: 4400: 4395: 4393: 4388: 4387: 4384: 4378: 4375: 4372: 4369: 4367: 4363: 4360: 4359: 4346: 4342: 4336: 4328: 4324: 4320: 4316: 4312: 4308: 4304: 4300: 4296: 4289: 4281: 4277: 4270: 4259: 4253: 4245: 4239: 4228: 4224: 4222:92-1-116923-2 4218: 4214: 4207: 4206: 4199: 4191: 4185: 4166: 4160: 4144: 4138: 4122: 4118: 4112: 4096: 4092: 4085: 4077: 4071: 4067: 4063: 4062: 4057: 4051: 4035: 4031: 4030:The Telegraph 4026: 4019: 4003: 3999: 3998:The Telegraph 3994: 3987: 3979: 3973: 3969: 3968: 3963: 3957: 3955: 3953: 3951: 3943:. p. 49. 3942: 3941: 3936: 3930: 3928: 3926: 3924: 3922: 3920: 3918: 3916: 3914: 3912: 3903: 3899: 3892: 3877: 3873: 3866: 3851: 3847: 3840: 3832: 3828: 3822: 3806: 3800: 3792: 3788: 3781: 3773: 3766: 3759: 3751: 3747: 3741: 3733: 3729: 3723: 3717:. Fannie Mae. 3716: 3711: 3705:. Fannie Mae. 3704: 3699: 3692: 3686: 3679: 3674: 3667: 3663: 3654: 3647: 3641: 3634: 3629: 3621: 3608: 3600: 3594: 3586: 3582: 3575: 3561: 3557: 3551: 3543: 3537: 3521: 3517: 3511: 3504: 3498: 3491: 3486: 3485: 3480: 3474: 3466: 3460: 3456: 3445: 3442: 3439: 3436: 3433: 3430: 3429: 3426:Legal details 3421: 3418: 3415: 3411: 3408: 3406: 3403: 3402: 3399:Other nations 3393: 3389: 3386: 3384: 3381: 3378: 3375: 3372: 3369: 3367: 3364: 3361: 3358: 3355: 3352: 3349: 3346: 3344: 3341: 3338: 3335: 3334: 3326: 3323: 3321: 3318: 3316: 3313: 3311: 3308: 3307: 3299: 3296: 3294: 3291: 3289: 3286: 3283: 3280: 3278: 3275: 3273: 3270: 3268: 3265: 3264: 3253: 3249: 3245: 3243: 3239: 3235: 3231: 3226: 3216: 3214: 3209: 3207: 3202: 3200: 3195: 3192:) there is a 3191: 3187: 3182: 3180: 3176: 3172: 3168: 3165: 3160: 3150: 3146: 3137: 3135: 3131: 3130: 3125: 3121: 3118: 3117:Henry Paulson 3114: 3105: 3099:Recent trends 3096: 3093: 3088: 3083: 3081: 3077: 3073: 3069: 3064: 3063: 3058:(such as the 3057: 3056:covered bonds 3046: 3044: 3040: 3036: 3032: 3027: 3025: 3020: 3015: 3012: 3008: 3004: 3000: 2995: 2993: 2989: 2983: 2973: 2971: 2967: 2963: 2957: 2955: 2949: 2947: 2943: 2938: 2935: 2930: 2928: 2918: 2916: 2912: 2908: 2904: 2900: 2896: 2895:mortgage note 2891: 2889: 2885: 2881: 2877: 2872: 2870: 2866: 2862: 2858: 2854: 2850: 2844: 2840: 2833:United States 2830: 2827: 2826:Bausparkassen 2823: 2822:Bausparkassen 2819: 2809: 2805: 2802: 2797: 2791: 2781: 2779: 2775: 2771: 2770:blanket loans 2767: 2763: 2759: 2757: 2753: 2749: 2745: 2743: 2739: 2735: 2731: 2727: 2723: 2719: 2718:package loans 2714: 2712: 2708: 2705:is a form of 2704: 2700: 2696: 2691: 2687: 2678: 2675: 2665: 2663: 2658: 2656: 2652: 2648: 2644: 2639: 2634: 2624: 2620: 2617: 2611: 2607: 2604: 2593: 2590: 2582: 2572: 2568: 2564: 2558: 2557: 2553: 2548:This section 2546: 2542: 2537: 2536: 2528: 2524: 2522: 2518: 2514: 2510: 2506: 2502: 2495:Interest only 2477: 2470: 2467: 2451: 2444: 2429: 2422: 2407: 2400: 2399: 2398: 2395: 2379: 2376: 2371: 2363: 2360: 2357: 2347: 2339: 2336: 2333: 2327: 2321: 2318: 2315: 2312: 2304: 2302: 2298: 2294: 2289: 2287: 2281: 2279: 2275: 2271: 2267: 2263: 2259: 2258: 2253: 2252: 2241: 2238: 2234: 2225: 2216: 2214: 2213:currency risk 2210: 2200: 2196: 2187: 2184: 2180: 2177: 2176:credit scores 2173: 2160: 2157: 2154: 2153: 2152: 2143: 2139: 2134: 2124: 2122: 2118: 2114: 2106: 2101: 2097: 2096: 2095: 2093: 2089: 2088:floating rate 2085: 2081: 2073: 2069: 2066: 2061: 2058: 2057: 2056: 2048: 2043: 2033: 2031: 2025: 2023: 2019: 2015: 2011: 2006: 2003: 1999: 1994: 1987: 1984: 1981: 1977: 1974: 1971: 1967: 1964: 1961: 1958: 1955: 1952: 1951:loan servicer 1948: 1944: 1940: 1936: 1932: 1929: 1926: 1923: 1920: 1916: 1912: 1908: 1905: 1902: 1901: 1900: 1898: 1893: 1890: 1886: 1885:interest rate 1882: 1881:real property 1878: 1874: 1870: 1866: 1862: 1858: 1854: 1850: 1849:real property 1846: 1842: 1820: 1815: 1813: 1808: 1806: 1801: 1800: 1798: 1797: 1792: 1791:Watered stock 1789: 1787: 1784: 1782: 1779: 1777: 1774: 1772: 1769: 1767: 1764: 1762: 1759: 1757: 1754: 1752: 1751:Market impact 1749: 1747: 1744: 1742: 1739: 1737: 1734: 1732: 1729: 1727: 1724: 1722: 1719: 1717: 1714: 1712: 1709: 1707: 1704: 1702: 1699: 1697: 1696:Asset pricing 1694: 1693: 1692: 1691: 1685: 1684: 1679: 1676: 1674: 1671: 1669: 1666: 1664: 1661: 1659: 1656: 1654: 1651: 1649: 1646: 1644: 1641: 1639: 1636: 1634: 1631: 1629: 1626: 1624: 1621: 1619: 1616: 1614: 1611: 1609: 1606: 1604: 1601: 1599: 1596: 1592: 1589: 1587: 1584: 1582: 1579: 1577: 1574: 1572: 1569: 1568: 1567: 1564: 1562: 1559: 1557: 1554: 1552: 1549: 1547: 1544: 1542: 1539: 1537: 1534: 1532: 1529: 1525: 1522: 1520: 1517: 1515: 1512: 1511: 1510: 1507: 1505: 1502: 1500: 1497: 1496: 1495: 1494: 1491: 1487: 1484: 1483: 1477: 1474: 1470: 1467: 1465: 1462: 1460: 1457: 1456: 1455: 1454: 1449: 1446: 1445: 1443: 1442: 1439: 1436: 1435: 1430: 1427: 1425: 1422: 1420: 1417: 1415: 1412: 1410: 1407: 1406: 1405: 1404: 1401: 1398: 1397: 1392: 1389: 1387: 1384: 1382: 1379: 1377: 1374: 1372: 1369: 1367: 1364: 1362: 1359: 1357: 1354: 1352: 1349: 1347: 1344: 1342: 1339: 1337: 1334: 1332: 1329: 1327: 1324: 1322: 1319: 1318: 1317: 1316: 1313: 1310: 1306: 1303: 1302: 1298: 1294: 1293: 1290: 1287: 1286: 1277: 1273: 1269: 1265: 1260: 1256: 1253: 1240: 1235: 1233: 1228: 1226: 1221: 1220: 1218: 1217: 1212: 1202: 1200: 1195: 1190: 1188: 1185: 1184: 1183: 1182: 1175: 1172: 1170: 1167: 1165: 1162: 1160: 1157: 1155: 1152: 1151: 1148: 1143: 1142: 1131: 1128: 1126: 1123: 1121: 1118: 1116: 1113: 1112: 1111: 1110: 1105: 1104:Financial law 1102: 1098: 1093: 1092: 1081: 1078: 1076: 1073: 1071: 1068: 1066: 1063: 1061: 1060:Basel Accords 1058: 1056: 1053: 1052: 1051: 1050: 1047: 1044: 1043: 1038: 1035: 1034: 1030: 1027: 1025: 1022: 1020: 1017: 1015: 1012: 1010: 1007: 1005: 1002: 1000: 997: 996: 992: 987: 986: 975: 972: 970: 967: 962: 959: 956: 952: 949: 948: 946: 941: 938: 936: 933: 932: 930: 929: 928: 927: 924: 921: 920: 915: 912: 907: 904: 902: 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