Another difference is that reverse mortgages don't require a specific income level or credit profile, but are based instead on the home's equity.
Pantoja said her office processed 252 reverse mortgages in 2003, up from about 180 the year before.
housing market remains hot, which is good news for the mortgage guaranty insurance industry.
The primary and secondary mortgage markets play a critical role in the U.
For example, some lenders allow consumers to obtain home loans or refinance mortgages
on the basis of assets rather than credit rating.
The diversity of the participants' goals and strategies also complicates the task: The government mortgage
insurers that account for most of the risk-bearing activity in the government mortgage
system are nonprofit and accept nearly all the credit risk of the mortgages
they insure; the mortgage
originators, insurers, and purchasers that make up the conventional mortgage
system are profit-seeking and generally act to spread the risk throughout the system.
Such tax reductions frequently are so significant as to more than offset the higher interest rates of business or personal loans compared with home mortgages
The company offers a full range of branding options to support the servicing of multiple products, including first mortgages
, home equity loans and lines and unsecured consumer credit, as well as multiple asset grades, including nonprime and nonperforming loans.
Only a small percentage of all commercial mortgages
have been securitized, and among those securitized it is common for the risk-free part to be transferred, while the conduit retains a significant part of the risky tranches.
Like a purchaser of mortgages
, however, a depository institution that holds a mortgage
may not bear the full risk of default associated with it but may instead share the risk with a mortgage
5 million first mortgage
and a $3 million line of credit for Doric Apartment Corporation, a 434-unit co-op located at 100 Manhattan Ave.
NCB senior vice president Sheldon Gartenstein arranged the largest transaction on behalf of the NCB in June, a $14,449,500 first mortgage
for the 483-unit co-op located at 93-32.