What is mortgage cramming by banks?

Answer Mortgage "cramming" or "cram-down" is a court-ordered adjustment in the terms of a mortgage loan, usually to prevent foreclosure. Banks can be ordered to cram certain mortgages, but not others.Term... Read More »

Top Q&A For: What is mortgage cramming by banks

What are mortgage banks?

A mortgage bank is a bank that specializes in originating mortgage loans to consumers by backing the funds for a loan. After the loan is originated, often it is sold to another investing source.Ide... Read More »

What are mortgage server banks?

Mortgage server banks act on behalf of mortgage companies and their borrowers to receive payments and process principal, interest, tax and insurance payments.FunctionMortgage banks and companies th... Read More »

What do banks look for in a mortgage?

Before deciding to grant a mortgage loan, banks review the creditworthiness of the buyers, their income-to-debt ratio and their available funds for a down payment. The banks also confirm the buyers... Read More »

What percent of income do banks require towards a mortgage payment?

A good rule of thumb when determining the maximum amount of a mortgage payment is not allowing the amount to be over 28 percent of your gross monthly income. This is known as the 'front-end ratio' ... Read More »