Category: Loans

Chartered Surveyors in the United Kingdom

A Chartered Surveyor in the United Kingdom is a surveyor who is a member of the Royal Institution of Chartered Surveyors ( “RICS”). Until the end of the 20th century, some members were members of the ISVA (“Incorporated Society of Valuers and Auctioneers”), but this organization merged into the RICS in 1999. [1]…


Chartered Surveyor

Chartered Surveyor is the description (protected by law in Many countries) of Professional Members and Fellows of the RICS Entitled to use the designation (and a number of variations Such As ” Chartered Building Surveyor ” or ” Chartered Quantity Surveyor ” or “Chartered Civil Engineering Surveyor “in Commonwealth countries and Ireland . Chartered originates from the Royal Charter to the world’s first professional body of surveyors. Chartered Surveyors are entitled to use “MRICS”…


Certificate in Mortgage Advice and Practice

The Certificate in Mortgage Advantage and Practice (CeMAP) is a QCF Level 3 UK specific qualification for mortgage advisers offered by The London Institute of Banking & Finance ) which meets the standards required by the Financial Conduct Authority to practice as a ‘licensed’ 80% of UK advisers holding the qualification. [1]…


Mortgage insurance

Mortgage Insurance (Also Known As mortgage guarantee and home-loan insurance ) is an insurance policy qui compensates investors for gold Lenders Losses due to the default of a mortgage loan . Mortgage insurance can be either public or private. The policy is also known as a mortgage indemnity guarantee (MIG), particularly in the UK….


Loss pay clause

A loss payee clause (or loss payable clause ) is a clause in a contract of insurance That Provides, in the event of payment being white made under the policy in relation to the insured risk, That payment will be made to a third party Rather than to The insured beneficiary of the policy ….


Lenders mortgage insurance

Lenders mortgage insurance ( LMI ), also known as private mortgage insurance ( PMI ) in the US, is a mortgage insurance mortgage loan . It is insurance to offset losses in the case where a mortgagor is not able to repay the loan and the lender is not able to recover its costs after foreclosure and sale of the mortgaged property. [1] Typical rates are $ 55 / mo. Per…


Mortgage Professionals Canada

Canada Mortgage Professionals (French: Professional Mortgage of Canada ) is the National Association Representing Canada’s mortgage industry. Mortgage Professionals Canada’s membership includes 12,000 mortgage brokers, mortgage lenders, mortgage insurers and other industry stakeholders. [1] Mortgage Professionals Canada (MAC) provides the Accredited Mortgage Professional (AMP) designation in Canada, to qualifying mortgage professionals. Mortgage Professionals Canada provides mortgage professionals with the Accredited Mortgage…


Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation ( CMHC ), is a Crown corporation of the Government of Canada . [2] CMHC is governed by a board of directors and is accountable to Parliament through the Minister of Families, Children and Social Development . Previously the portfolio was held by the Minister of Employment and Social Development. The board of directors and chairman are appointed by the Government of…


2010 housing loan scam in India

The 2010 fake housing loan in India was uncovered by the Central Bureau of Investigation (CBI) in India. CBI arrested eight top-ranking officials of public sector banks and financial institutions, including the LIC Housing Finance CEO Ramchandran Nair, in connection with the scam. [1]…


Wraparound mortgage

A wraparound mortgage , more commonly known as a “wrap”, is a form of secondary financing for the purchase of real property. The seller extends to the buyer a junior mortgage which wraps around and exists in addition to any superior mortgages already secured by the property. Under a wrap, a seller accepts a secured promissory note from the buyer for the amount…