Is a credit card better than a loan? With money tight in many households an increasing number of people are applying for personal loans, but depending on the amount you want to borrow, a credit card could be a better option. Peter Harrison, credit card expert at moneysupermarket.com, said: "A loan may seem like the obvious choice if you need to borrow money, but don't rule out a credit card if you only need a relatively small amount." Interest on loans versus credit cards There are a number of factors which will influence the decision over whether to apply for a loan or a credit card, and a key one is the amount you are looking to borrow.
Getting a Loan With Bad Credit. It's hard to get a loan with bad credit. Options are limited, and borrowing is more expensive. If you're trying to get a loan with bad credit, do some homework before you get a loan. It's easy to get into expensive traps, and there are a few things you can do to improve your chances. What is Bad Credit? Your credit may not be as bad as you think. If you've been told that your credit ruined your chances of getting a loan, make sure it's true. There may be errors on your credit report. Once those are fixed, things may look very different to lenders.
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A Mortgage bank specializes in originating and/or servicing mortgage loans. A mortgage bank is a state-licensed banking entity that makes mortgage loans directly to consumers. The difference between a mortgage banker and a mortgage broker is that the mortgage banker funds loans with its own capital. Generally, a mortgage bank originates a loan and places it on a pre-established warehouse line of credit until the loan can be sold to an investor such as Fannie Mae, or Freddie Mac.[1] The process of selling a loan from the mortgage bank to another investor is referred to as selling the loan on the secondary market. Mortgage banks frequently use the secondary market to sell loans because the funds received pay down their warehouse lines of credit which enables the mortgage bank to continue to lend. A mortgage bank is not regulated as a federal or state bank and does not take deposits from consumers or businesses. A mortgage bank raises some equity which it uses to guarantee the warehouse line and the bulk of the funds are provided by the warehouse lender. A mortgage bank can vary in size. Some mortgage banking companies are nationwide. Some may originate a large loan volume exceeding that of a nationwide commercial bank. Many mortgage banks employ specialty servicers for tasks such as repurchase and fraud discovery work. Their two primary sources of revenue are from loan origination fees, and loan servicing fees (provided they are a loan servicer). Many Mortgage bankers are opting not to service the loans they originate. By selling them shortly after they are closed and funded, they are eligible for earning a service released premium. The secondary market investor that buys the loan will earn revenue for the servicing of the loan for each month the loan is kept by the borrower.
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发表于 2013-3-10 13:32
