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| Home | Ask Your Question | Mortgage Glossary |
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What Is an Upfront Mortgage Broker?
July 13, 2000 An Upfront Mortgage Brokertm (UMB) is one who has elected to do business in an upfront and fully transparent way. The major differences between a UMB and a conventional mortgage broker (MB) are: 1 ... more... How Do I Find an Ethical Mortgage Broker? July 10, 2000 "In one of your columns you said that you were working on a self-enforcing code of ethical conduct for mortgage brokers that would allow borrowers to distinguish between them and the rogues. Have you made any progress?? Yes, but I could not have done ... more... |
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mortgage mbs related definitions |
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Mortgage Baked Securities, MBS
Mortgage Baked Securities, MBS Mortgage-backed securities (MBS) are bond or other financial obligation secured by a pool of mortgage loans. Mortgage loans are purchased from banks, mortgage companies, and other originators and then assembled into pools by purchasing entity. ... more... Mortgage Note Mortgage Note A written negotiable promise (agreement) to pay a sum of money plus interest at a set interest rate. The note is secured by a mortgage. In turn, mortgage is secured by property. Mortgage note states the amount of debt and the rate of interest, and makes the ... more... |
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