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Community leaders are worried that the apparent surge in defaults will turn into a replay of what happened to South Side communities such as Roseland and Englewood. deregulation of the loan process.
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And for a town with a million budget, “that’s a considerable note” that needs to be addressed immediately, she said, adding “It’s time to take the credit card to a mortgage. to insurance broker.
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· Loan officers are employees of lenders or mortgage brokers. Loan officers find, sell and counsel customers, and take applications. Loan officers employed by mortgage brokers may also be involved in loan processing. In the case of a one-person mortgage broker firm, that person is both the broker and the loan officer.
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A construction mortgage allows for construction of a 1-4 family residence. A rehab mortgage allows borrowers to do minor repairs & purchase new appliances.
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