Who are you supposed to be as an agent in a real estate transaction? This question is more difficult to answer than it may seem. As an agent, you’re supposed to be your client’s BFF while also being their taskmaster; you’re supposed to be loyal to them, except when...
Scratch and dent loans sound like financing that’s been through a lot, but they’re actually less terrifying than they sound. Scratch and dent loans are mortgage loans that have defects or irregularities that make them difficult to sell through normal...
A clawback in the mortgage lending industry may sound a bit desperate… and, well, it sort of is. A clawback generally refers to the recovery of money that was previously paid or transferred. The term can arise in several contexts. For example, a mortgage lender or...
A cramdown in a mortgage-related bankruptcy proceeding sounds terrible, but it actually helps the borrower in most situations. In the mortgage loan business, a cramdown generally refers to a bankruptcy court reducing the amount of a secured debt that is treated as...
Mortgage professionals are not professional stylists, but this doesn’t mean they don’t do haircuts. In the mortgage loan business, a haircut is a reduction applied to the stated or market value of an asset when determining how much credit, financing, or collateral...
