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of a percentage point higher than the third quarter average. A commercial lender offers loans backed by hard collateral. In most cases this is real estate, but it can also include factoring, non-conforming assets, or other sources of collateral. Although there california first mortgage be other possible ways of doing business, a real estate brokerage usually earns its commission (fee) as follows. A real estate broker and a seller who decides to sell his/her real estate through that broker sign a listing contract. The seller's real estate is then listed for sale. In consideration of the brokerage california first mortgage california first mortgage a satisfactory buyer for the property, a real estate broker anticipates receiving a commission for the service the brokerage provided. Usually, the payment of a commission to the brokerage is contingent upon finding a satisfactory buyer for the real estate for sale. The details are typically determined by the listing contract. Commercial lenders include commercial banks, mutual companies, private lending institutions, hard money lenders and other financial groups. These lenders typically have widely varying standards on which they base their loan criteria and evaluate california first mortgage borrowers. The commercial loan industry is most often accessed through brokers, who provide an evaluation of a borrower and then recommend the loan to a number of different commercial lenders california first mortgage they feel will be most likely to fund the borrower's request. An owner-occupier is a person who lives in a house that he or she owns. Owner-occupancy is therefore also called home ownership. This category of housing tenure is economically important for two reasons.In 2003, total U.S. residential mortgage production reached a record california first mortgage of $3.8 trillion through record low interest rates (though these continue to vary according to credit rating "Lenders look at second mortgage applications with more scrutiny than they do the first mortgage applications," says Simmons. A mortgage (from Law French, lit. "dead pledge") is a device developed in the common law world, whereby the ownership california first mortgage property is passed from one person, the mortgagor, to another, the mortgagee, in return for the loan of money.