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8 Cards in this Set
- Front
- Back
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Disintermediation |
Lenders pay high rates of interest for deposits while receiving long term income from low interest rate mortgage loans |
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Primary market |
Lenders originate loans |
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Secondary market |
A market where loans are sold to investors |
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Computer loan origination |
Originating loans through the use of networked computer system |
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FNMA |
Private profit corp, buys fha from lenders, pooled loans together issuing mortgage backed securities |
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Freddie Mac (FHLMC) |
Issues its own securities against it's own mortgage pools. Similar to FNMA but uses conventional loans |
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Mortgage company |
Firm that makes loans and sells them |
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Alienation Clause |
Requires immediate repayment of the loan if ownership transfers |
