Posted By: krmabyrd
Real Estate Definitions - 09/08/03 08:41 PM
The State of Illinois, like many other States, has recently had signed into law a bill addressing "high cost" / predatory lending on real estate loans. This new act requires that certain reports be filed with a State Department of Financial Institions.
The question I have is related to a definition that I have seen many times but never really questioned. Now that reporting directly refers to it I figure I need to clarify.
Could anyone either provide definition or direct me to a resource that provides explaination on the following:
"Conventional one to 4 family mortgage".... Conventional?
Thanks for any assistance / feedback.
The question I have is related to a definition that I have seen many times but never really questioned. Now that reporting directly refers to it I figure I need to clarify.
Could anyone either provide definition or direct me to a resource that provides explaination on the following:
"Conventional one to 4 family mortgage".... Conventional?
Thanks for any assistance / feedback.