RE Financing Ch. 4 The Mortgage Industry Quick Key Terms

  1. Loan origination
    loan application process
  2. Commerical Bank
    commercial and resident lending
  3. Investment Bank
    corporate finances, gov bonds, advice
  4. Savings bank
    -consumer loans, depositors, mortgage loans
  5. Saving and Loan association (S&L)
    home mortgage loans
  6. Thrift Institutions
    savings banks and S&Ls
  7. Credit Union
    -member loans
  8. Mortgage Banker
    -lender loans for investors
  9. Mortgage Broker
    intermediary between lenders and borrowers
  10. Loan Correspondent
    intermediary for wholesale lender
  11. SAFE Mortgage Licensing Act
    -law for licensing and registration for originators
  12. Federal Housing Administration (FHA)
    -mortgage insurance to encourage lenders to make more affordable home loans
  13. Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA)
    law for savings and loan crisis; oversee financial institutions
  14. Wholesale lending
    -loan group investing
  15. Retail Lending
    direct loans
  16. Subprime Lending
    -poor people loans
  17. Housing and Economic Recovery Act (HERA)
    funding for 2008
  18. Trouble Asset Relief Programs (TARP)
    money bailout for 2008
  19. Dodd-Frank Wall Street Reform Consumer Protection Act
    -new rules for mortgage lending and financing
Card Set
RE Financing Ch. 4 The Mortgage Industry Quick Key Terms
mortgage industry quick key terms