Mortgage Bank


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Mortgage Bank

A bank that primarily or exclusively offers loans to clients to purchase real estate, especially of private residences. The bank loans its own capital to clients and either collects payments (with interest) or sells its loans on the secondary market. Other revenue comes from origination fees and similar fees attached to making loans.

Mortgage Bank

Same as Mortgage Company.
See Mortgage Lender/Mortgage Banks Versus Portfolio Lenders.

References in periodicals archive ?
Preferred owns Wholesale Lending Online (WLO), a leading wholesale mortgage bank with offices in Burlingame, Sacramento and Costa Mesa California, and Las Vegas, Nevada; and Preferred Mortgage Services, a retail mortgage broker with offices in Burlingame, Millbrae, Redwood City, and San Rafael, California and branches in Las Vegas, Nevada and Phoenix, Arizona.
Short-term deposits at GMAC Commercial Mortgage Bank are rated 'F2' in keeping with Fitch's view of the superior recovery prospects for depositors due to National Depositor Preference.
Cline, whose background includes serving as lead auditor of one of the nation's largest mortgage banks, uses his industry experience to give MBSD clients a distinctive perspective of the risks, challenges and opportunities they face.
He continued, "Although most mortgage banks do due diligence before making an investment in an enterprise system, it often does not meet all business requirements exactly and will need to be interfaced, customized and integrated.

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