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URL:https://www.learndesk.us/class/6620336978132992/lesson/f8db3dcb477ce12af7dc8ba2f0e3d8bb?ref=outlook-calendar
SUMMARY:Residential Mortgages Snapshot Review
DTSTART;TZID=America/Los_Angeles:20260515T190000
DTEND;TZID=America/Los_Angeles:20260515T200000
LOCATION:https://www.learndesk.us/class/6620336978132992/lesson/f8db3dcb477ce12af7dc8ba2f0e3d8bb?ref=outlook-calendar
DESCRIPTION: MORTGAGE CONCEPTS
Mortgage law
● hypothecation: mortgage financing: using borrowed money secured by a mortgage to finance the purchase of the real estate ● lien-theory—mortgagee holds a lien against the title; title theory—mortgage conveys title to the mortgagee; Florida is a lien-theory state
Loan instruments
● promissory note: legal instrument executed by borrower stating debt amount, loan term, method and timing of repayment, interest rate, promise to pay; may repeat other provisions from mortgage document or deed of trust; negotiable instrument assignable to a third party ● mortgage instrument: pledges the property as collateral for the loan ● mortgage mechanics: borrower gives lender note and mortgage; lender gives borrower funds and records a lien ● Fannie Mae / Freddie Mac Uniform Florida Fixed-Rate Note – the form used to standardize language for fixed-rate mortgage loans issued in Florida; see https://singlefamily.fanniemae.com/media/11241/display ●...

https://www.learndesk.us/class/6620336978132992/lesson/f8db3dcb477ce12af7dc8ba2f0e3d8bb?ref=outlook-calendar
STATUS:CONFIRMED
SEQUENCE:3
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