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7,200 [ 1] (2007) Website. ncen.com. New Century Financial Corporation was a real estate investment trust that originated mortgage loans in the United States through its operating subsidiaries, New Century Mortgage Corporation and Home123 Corporation. It was founded in 1995. [ 2] In 2004 it converted to a real estate investment trust. [ 2]
Collateral (finance) In lending agreements, collateral is a borrower's pledge of specific property to a lender, to secure repayment of a loan. [ 1][ 2] The collateral serves as a lender's protection against a borrower's default and so can be used to offset the loan if the borrower fails to pay the principal and interest satisfactorily under the ...
Irvine is located in the center of Estill County at (37.696835, -83.966895 The city limits are on the northeast side of the Kentucky River, and the city is bordered by Ravenna to the southeast. According to the United States Census Bureau , Irvine has a total area of 1.49 square miles (3.85 km 2 ), of which 1.41 square miles (3.65 km 2 ) is ...
Higher category: Law and Common law. v. t. e. A listing contract (or listing agreement) is a contract between a real estate broker and an owner of real property granting the broker the authority to act as the owner's agent in the sale of the property. [1]
Discount points. Discount points, also called mortgage points or simply points, are a form of pre-paid interest available in the United States when arranging a mortgage. One point equals one percent of the loan amount. By charging a borrower points, a lender effectively increases the yield on the loan above the amount of the stated interest rate.
Land contract. A land contract, (also known as contract for deed or agreement for deed ), is a contract between the buyer and seller of real property in which the seller provides the buyer financing in the purchase, and the buyer repays the resulting loan in installments. Under a land contract, the seller retains the legal title to the property ...
The Real Estate Settlement Procedures Act (RESPA) was a law passed by the United States Congress in 1974 and codified as Title 12, Chapter 27 of the United States Code, 12 U.S.C. §§ 2601 – 2617. The main objective was to protect homeowners by assisting them in becoming better educated while shopping for real estate services, and eliminating ...
In law, conveyancing is the transfer of legal title of real property from one person to another, or the granting of an encumbrance such as a mortgage or a lien. [1] A typical conveyancing transaction has two major phases: the exchange of contracts (when equitable interests are created) and completion (also called settlement, when legal title passes and equitable rights merge with the legal title).