| to other borrowers (including in the form broker commercial loan mortgage mortgages) and thereby to create more mortgages than the banks could with the amount they have on deposit. This in turn allows the public to use these mortgages to purchase homes, something the government wishes to encourage. The investors, meanwhile, gain low-risk income at a higher interest rate (essentially the mortgage rate, minus the cuts of the bank and GSE) than broker commercial loan mortgage could gain from most other bonds. eMortgages are electronic mortgages made legally enforceable by Electronic Signatures in Global and National Commerce Act and the Uniform Electronic Transactions Act. Standardization of eMortgages is being facilitated by the Mortgage Industry Standards Maintenance Organization eMortgage Workgroup, broker commercial loan mortgage builds on the |
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