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 ?
CB Russian Mortgage Bank (LLC) did not comply with the requirements of the laws and regulations of the Bank of Russia in the area of ??countering the legalization (laundering) of criminal proceeds and the financing of terrorism in terms of the obligation to identify transactions subject to mandatory control to the authorized body.
' We intend to let people know what the mortgage bank is all about, how do you own a house through the mortgage, how do you access to mortgage and many other benefits one can derive through mortgage bank.
BAGHDAD / Aswat al-Iraq - Iraq's Mortgage Bank has decided to raise the personal credit, granted for any citizen planning to build a house, to 60 million Iraqi dinars (US$53,000 approx), the Bank's Director-General, Hussein Ahmed Tu'ma said on Wednesday.
The concept stipulates that a development bank will be established on the basis of Mortgage Bank by the end of 2013, the Finance Ministry's Communication Department head Baiba Melnace reported.
Finnish financial group Aktia Savings Bank Plc said on Tuesday (11 April) that it had signed an agreement with 36 local cooperative banks to sell 10% of its shares in Aktia Real Estate Mortgage Bank Plc.
The mortgage bank said the drop in transaction volumes,both in the slowing housing market and investment markets, had adversely affected its short-term performance.
NEW MORTGAGE BANK. Victor Galan Jr., the son of Victor Galan, R-G Financial Corp.
By not allowing for the separate capitalization of the cost of mortgage servicing rights (on originated loans), a mortgage bank entity often reported accounting losses on the sale of mortgage loans with the servicing rights retained.
THE House of Representatives on Tuesday said that the Federal Government should recapitalise the Federal Mortgage Bank of Nigeria to the tune of N500 billion.
We are so proud of these results and the tremendous accomplishment that it represents for our team, said Mike Weinbach, Head of Servicing for the Mortgage Bank. There has been a significant jump in satisfaction in many different areas of servicing and that shows strong forward momentum in our mission to create lifelong relationships with customers.
Feiferis' work as the Mortgage Bank's board chairman has been held in "high regard" at the Finance Ministry, says Bicevskis.
Most recently, as the former COO & CFO of CIS Home Loans, an independent mortgage bank focused on single family affordable housing lending, he gained a great deal of knowledge operating as an active Ginnie Mae Issuer, Fannie Mae Seller/Servicer, and Freddie Mac Seller/Servicer.

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