open mortgage

open mortgage

A mortgage that may be prepaid at any time without penalty. Do not confuse with an open-end mortgage. Further, an open mortgage clause  does not have anything to do with an open mortgage.

References in periodicals archive ?
Global Banking News-December 4, 2015--Bell State Bank & Trust to open mortgage division
The Funding for Lending Scheme has helped open mortgage lending a little, which in turn will increase demand for home insurance for new homeowners.
6 percent contained open mortgage obligations that were nearly twice as likely to appear for a borrower with no open mortgage tradelines on his or her traditional credit report.
Between 2003 and 2009, the number of federal corporate fraud cases plunged 55 percent, bankruptcy fraud cases declined 44 percent, and securities fraud charges fell 17 percent, The FBI also has 2,800 open mortgage fraud cases.
Customers can also manage their accounts and open mortgage and savings accounts over the phone and by post.
TitleVest will offer title searches, judgment and lien searches, open mortgage searches, bankruptcy and foreclosure searches, and will prepare real estate transfer documents--all on a pro bono basis.
An open mortgage usually has a slightly higher interest rate than a closed one, but it has the big advantage of allowing lump sums to be paid off the principal at any time.
The insurer argued that the insurance policy at issue contained a loss payable or open mortgage clause rather than a standard mortgagee clause and, thus, under such a clause a loss due to the misconduct of the insured would prevent recovery by the insured and the mortgagee.
para]]The Property Retention Group launched a new offering of educational products designed to provide guidance to professionals and property owners on how to use specific mortgage loan compliance audit reports to streamline open mortgage loan modification and/or loss mitigation cases for residential and commercial real estate transactions.
a mortgage on its intellectual property and in turn Rocmec Mining will offer an open mortgage to Rocmec International.
16, 2014 /PRNewswire-iReach/ -- Four people from Austin based Open Mortgage have received one of the mortgage industry's highest honors.

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