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PIANO MUSIC THEORY

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Lending Cycle in USA. With details on Freddie Mac and Fannie Mae

KEY TERMS Mortgage  A  mortgage loan  is a loan used  to raise funds to buy real estate, or by existing property owners to raise funds for any purpose while putting a  lien  on the property being mortgaged. The loan is " secured " on the borrower's property; t his means that a  legal mechanism  is put into place which allows the lender to take possession and sell the secured property (" foreclosure " or " repossession ") to pay off the loan in the event the borrower defaults on the loan or otherwise fails to abide by its terms. Fungible Fungibility implies that two things are identical in specification, where individual units can be mutually substituted.  Commodities, common shares, options, and dollar bills are examples of fungible goods. Security Refers to a fungible financial instrument.   A security can represent ownership in a corporation in the form of stock, a creditor relationship with a governmental body or a corporation re...