All about Nationwide Home Mortgage Loan Company

Nationwide Mortgage Loan Company has made commitment as a part of its business plan to be a low cost provider of mortgage loans and to avoid predatory lending practices. What exactly is meant by "predatory lending”? A Predatory lending is an unfair credit practice.

• charging points and fees to a borrower that is excessive and unallowable;
• falsifying credit and estimate documentation;
• providing a loan to a borrower who clearly cannot afford to make the payments;
• not disclosing to the borrower all the terms of the loan;
• Loan flipping" where a lender repeatedly refinances a loan, thereby collecting additional fees in order to strip the equity from the home.

North Carolina is the first state to enact a predatory lending law. Other predatory lending bills are being proposed both at the state and federal level. The main goal of this section is to offer articles and resources to help you manage the risks of everyday life, to recover from the unexpected and to prepare for the future. Here, you'll also find stories that tell of nationwide involvement of the communities.

 

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