Archive for: November 25, 2006

So we talked about Ginnie Mae, Fannie Mae and Freddie Mac.  Well, once they purchase the “pools” they break them down into smaller ownership parcels.  These are called “mortgage backed securities”. Each security represents a small ownership interest in the …

You talk to a lender and apply for the loan.  The lender does all the processing for you and you move in to your new home.  You make the payments to the company who originated the loan or your loan …

In the old days you walked downtown to your nearest savings and loan bank and if the bank had extra money hanging around and considered you a good credit risk they would lend you their money.

As you can see it …