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No, the mortgage loan origination agreement is not required by federal law. However, lenders often use these agreements as a best practice to clarify the terms of the loan origination process and the responsibilities of both parties. State laws may vary, and some states may have their own requirements regarding such agreements. It's important for borrowers to review any agreements carefully before signing.
What else can I help you with?
What is DE underwriting ?
A Direct Endorsement (DE) underwriter's basic responsibility is to review/certify mortgage loan origination documents for compliance with the requirements of the Federal Housing Administration's mortgage insurance program.
What is the maximum a leander can charge in origination points on a fixed mortgage?
The maximum a lender can charge in origination points on a fixed mortgage typically depends on the lender's policies and the regulations set by state and federal guidelines. Generally, origination points can range from 0% to 3% of the loan amount; however, some lenders may charge more for certain loan types or risk profiles. It's important for borrowers to shop around and compare fees, as these points can significantly impact the overall cost of the mortgage. Always review the Loan Estimate provided by the lender for specific costs associated with your mortgage.
Are you required to repay your mortgage company the monies it reduced your mortgage on a loan modification the federal government endorsed to help homeowners who were having trouble paying their mort?
Common sense says absolutely not. However, this question would be answered in the fine print of any documents the borrower signs as part of the modification agreement. The borrower should read that agreement carefully before signing.
How do you serve federal national mortgage association?
who is registered agent for federal national mortgage association
Is a home mortgage debt considered a federal debt?
No. A federal debt is a debt that is owned to the federal government. A home mortgage is a debt that is owed to the lending agency, be it a bank, a mortgage company, etc.
What is the symbol for Federal Agricultural Mortgage Corporation in the NYSE?
The symbol for Federal Agricultural Mortgage Corporation in the NYSE is: AGM.
What are the types of federal mortgage loans?
Not sure what you mean by "federal mortgage loans," but two possibilities are: Veterans Administration (VA) loans that are made by local lenders/mortgage companies and guaranteed by the federal government; and Federal Housing Administration (FHA) loans that are made by local lenders/mortgage companies and insured by the federal government. Also, the USDA offers subsidized loans to farmers and low-income homeowners in rural areas. Other possibilities are Federal National Mortgage Association (FannieMae) and Federal Home Loan Mortgage Corporation (FreddieMac). They are considered Government-sponsored Enterprises. They purchase mortgage loans that are made by local lenders/mortgage companies.
When a mortgage is forclosed with federal tax lien does the lien get paid prior to mortgage?
yes
What is the market cap for Federal Agricultural Mortgage Corporation AGM?
As of July 2014, the market cap for Federal Agricultural Mortgage Corporation (AGM) is $319,624,301.92.
Is mortgage payments considered federal debt?
If you are speaking of your own mortgage, no.If you are speaking of your own mortgage, no.If you are speaking of your own mortgage, no.If you are speaking of your own mortgage, no.
Can you keep your home after filing bankruptcy if you have a second mortgage if you want to reaffirm with your first mortgage?
Whether or not a home is forfeited depends on the state or federal homestead exemption, and if the lender is willing to reaffirm the loan agreement. Second mortgages are considered secured debt and have the same legal standing as first mortgages.
Do payments on mortgage need to be up to date to get a reverse mortgage?
No they don't. There is no income or credit qualifications other than federal delinquencies. (student loans, federal tax liens etc) We have even stopped foreclosure with a reverse mortgage.
