We carry out a similar analysis on a subsample of conventional fixed-rate amortizing mortgages.
12 The distinguishing characteristic of non-amortizing contracts is that they allow the borrower to make a lower payment initially compared with, say, a conventional fixed-rate amortizing mortgage.
While 40-year mortgages are amortizing mortgages
, they spread the amortization over a longer period, so that in the initial years the portion of the payment dedicated to principal is lower than it would be with a 30-year mortgage.
The collateral for the S and W groups consist of conventional, one- to four-family, fixed rate, fully amortizing mortgages
secured by first liens on residential properties.
It was financed by GMAC Mortgage under Fannie Mae's Community Living program, which offers 15-year and 30-year, fixed-rate, level payment, fully amortizing mortgages
The notes are backed by a pool of mortgage loans secured by first-ranking mortgage rights, fully amortizing mortgages
on residential properties located in Portugal.
Home purchasers can obtain financing on terms unprecedented in Poland -- 15-year fully amortizing mortgages
for up to 50 percent of the sales price at a fixed rate of currently 12 percent per annum.
The collateral backing the bonds consists of mortgage loans secured by first-ranking, fully amortizing mortgages
on residential properties located in Spain.
The Anti-Predatory Lending Initiative -- a $2 million pilot program developed by Hibernia National Bank (NYSE: HIB); Fannie Mae (NYSE: FNM), the nation's largest source of financing for home mortgages; Neighborhood Housing Services (NHS); and the Greater New Orleans Fair Housing Action Center (FHAC) -- provides market-rate, fully amortizing mortgages
to qualified homeowners who are in danger of losing their homes as a result of predatory-lending practices.
The certificates are secured by cross-collateralized and cross-defaulted, fully amortizing mortgages
on two properties, Potomac Mills, located in suburban Washington, D.