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The WORD for today is:
Predatory Lending—the intended victim is always the CONSUMER. The transaction requires only two participants to be successful, the mortgage broker who markets, initiates, processes, underwrites, and closes a loan transaction. The other necessary party to this transaction is an appraiser who is willing to inflate the appraisal sufficiently to cover the added costs dictated by the mortgage broker.
You may remember seeing this word in the February 14th post: here. You also saw it in the February 8th post: here.
Predatory Lending—the intended victim is always the CONSUMER. The transaction requires only two participants to be successful, the mortgage broker who markets, initiates, processes, underwrites, and closes a loan transaction. The other necessary party to this transaction is an appraiser who is willing to inflate the appraisal sufficiently to cover the added costs dictated by the mortgage broker.
You may remember seeing this word in the February 14th post: here. You also saw it in the February 8th post: here.
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You can find more helpful definitions of WORDS like these in Your Real Estate Advisor which can be purchased at www.DovePublishingHouse.com.
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