The modern mortgage lender has cont

The modern mortgage lender has continued to refine the long-term loan to make it
more desirable to borrowers. Even in the past 20 years, both the nature of the lenders
and the instruments have undergone substantial changes. One of the biggest changes
is the development of an active secondary market for mortgage contracts. We will examine
the nature of mortgage loan contracts and then look at their secondary market.
Twenty years ago, savings and loan institutions and the mortgage departments of
large banks originated most mortgage loans. Some were maintained in-house by the originator
while others were sold to one of a few firms. These firms closely tracked delinquency
rates and would refuse to continue buying loans from banks where delinquencies
were very high. More recently, many loan production offices arose that competed in real
estate financing. Some of these offices are subsidiaries of banks, and others are independently
owned. As a result of the competition for mortgage loans, borrowers could
choose from a variety of terms and options. Many of these mortgage businesses were
organized around the originate-to-distribute model where the broker originated the loan
and sold it to an investor as quickly as possible. This model increased the principal–agent
problem since the originator had little concern whether the loan was actually paid off.

Results (English) 1:

The modern mortgage has continued to refine the long-term loan to make itmore desirable to borrowers. Even in the past 20 years, both the nature of the lendersand the instruments have undergone substantial changes. One of the biggest changesis the development of an active secondary market for mortgage contracts. We will examinethe nature of mortgage loan contracts and then look at their secondary market.Twenty years ago, savings and loan institutions and the mortgage departments oflarge banks originated most mortgage loans. Some were maintained in-house by the originatorwhile others were sold to one of a few firms». These firms» closely tracked delinquencyrates and would refuse to continue buying loans from banks where delinquencieswere very high. More recently, many loan production offices arose that competed in realestate financing. Some of these offices are subsidiaries of banks, and others are independentlyowned. As a result of the competition for mortgage loans, borrowers couldChoose from a variety of terms and options. Many of these mortgage businesses wereorganized around the originate-to-distribute model where the broker originated the loanand sold it to an investor as quickly as possible. This model increased the principal-agentproblem since the originator had little concern whether the loan was actually paid off.

Results (English) 2:

The modern mortgage Lender has tục to refine the long-term loan to make it
more desirable to Borrowers. Even in the past 20 years, cả the nature of the lenders
and the instruments have undergone substantial changes. One of the biggest changes
is the development of an active secondary market for mortgage Contracts. We will examine
the nature of mortgage loan and then look Contracts spend the weekend at the secondary market.
Twenty years ago, savings and loan mortgage Institutions and the departments of
large banks mortgage loans originated nhất. Some Were maintained in-house by the originator
while others Were sold to one of vài Firms. These Firms Closely tracked delinquency
rates and would Refuse to continue buying loans from banks where delinquencies
were very high. More Recently, many loan production offices arose mà competed in real
estate financing. Some of These offices are subsidiaries of banks, and others are independently
owned. As a result of the competition for mortgage loans, không Borrowers
choose from a variety of terms and options. Many of những mortgage Businesses Were
Organized around the originate-to-distribute model where the broker originated the loan
and sold it to an investor as Quickly as Possible. This principal-agent model Increased the
problem vì the originator had little concern forwarded the loan was paid off Actually.