Private lending of mortgage financing and services

business mortgage business mainly involves three aspects can, in addition to the foregoing mortgage loans created in addition to also include financing and services. In mortgage finance is defined as an investment and hold mortgages, service refers to the borrower in a mortgage charging of monthly mortgage payments, and record the related matters in order to maintain operation of the mortgage. The creation of mortgage, financing and service doesn't have to be borne by the same financial institution. For example, in the United States, mortgage bank's expertise lies in creating housing mortgage loans and servicing of mortgages, instead of providing financing. After the mortgage bank in the creation of a mortgage, it will be sold to investors in the market, which involves the operation of the secondary mortgage market. For normal operation of the mortgage is taking a complicated but important task, because it improves the borrowers ' repayment timeliness and accuracy, reduces the risk of investing in mortgages. Mortgage services including:
1: monthly payments to the borrower and forwarded to the mortgage bond holders. In the meantime, mortgage services shall also record the borrower's prepayment mortgage loan balance is changing.
2: in the overdue repayment months payment, issue a notice of a call.
3: manage escrow accounts to pay for real estate taxes and insurance premiums.
4: provides tax information to the borrower at the end.
5: for the possibility of foreclosure procedures for good preparatory work. When the service is not a loan mortgage holder, service charge loan fees will be asked.


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