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 ?
On May 11, Austin, Texas-based Open Mortgage announced that working with LendingQB and International Document Services (IDS), the lender had exceeded its own projections by implementing a TRID-compliant LOS in 50 days.
Global Banking News-December 4, 2015--Bell State Bank & Trust to open mortgage division
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.
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.
paragraph] "Nearly 10,000 people turn 62 every day in the United States," says Ted Lange, branch manager and reverse-mortgage specialist at Austin, Texas-based Open Mortgage.
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.
a mortgage on its intellectual property and in turn Rocmec Mining will offer an open mortgage to Rocmec International.
Career mortgage lender Sharon Falvey, director of sales operations for Austin, Texas-based Open Mortgage LLC, started and spent the lion's share of her career originating the Home Equity Conversion Mortgage (HECM), the only government-insured reverse mortgage.
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.
The entire solution is built on Portellus' open Mortgage Solutions Framework that enables the use of service-oriented architecture for easy integration and communication with disparate applications and third-party service providers.

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