| loans in which the borrower is required to submit only minimal financial information. These loans carry a slightly higher interest rate (perhaps 0.25% home equity rate massachusetts 0.50% higher) and are available only to borrowers with excellent credit. Sometimes, a third party is involved, such as a mortgage broker. This entity takes the borrower's information and reviews a number of lenders, selecting the ones that will best meet the needs of the consumer. Loans are often sold on the open market to larger investors by the originating mortgage company. Many of the guidelines that they follow home equity rate massachusetts suited to satisfy investors. Some companies, called correspondent lenders, sell all or most of their closed loans to these investors, accepting some risks for issuing them. They often offer niche loans at higher prices that the investor does not wish to originate. If the underwriter is not satisfied home equity rate massachusetts the documentation provided |
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