Chapter 26

Mortgages and lending laws

The documents behind a loan, the loan programs and the federal rules

The promissory note and the mortgage or deed of trust; mortgagor and mortgagee; acceleration, due-on-sale and defeasance clauses; assumption and "subject to"; conventional, FHA and VA loans; the primary and secondary markets; Truth in Lending, RESPA, the Loan Estimate and Closing Disclosure, and ECOA. With a 3D loan desk to work.

1. 26.1
   The note and the security instrumentA promise, and something to back it
2. 26.2
   Clauses, and passing a loan onWhat the lender may do, and when
3. 26.3
   Loan programs and loan typesFHA insures, VA guarantees, neither lends
4. 26.4
   Primary and secondary marketsWhere loans are made, and where they are sold
5. 26.5
   The federal lending lawsDisclose the cost, keep settlement honest, lend without bias
6. 26.6
   Play it out: the loan deskOne loan, from signing to payoff

1 interactive 3D scene · 0 slider tasks · 3 practice sets · 19 questions