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Class: ACCT - Accounting & Information Systems; Subject: Accounting; University: American River College; Term: Fall 2009;
Typology: Quizzes
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BANKERS:Company, individual, or entity that originates, processes, underwrites, closes/funds, and services mortgage loans. HAVE THEIR OWN MONEY TO LEND.Mortgage Broker: Company or individual who, for a fee, places loans with lenders, but does not service such loans. Commercial Banks: Variety of financial services. DON'T HAVE THEIR OWN MONEY, BUT THEY CONNECT YOU W/ INDIVIDUAL WHO HAS MONEYSavings and Loan Associations (Thrifts) Credit Unions: Cooperative financial institutions owned and controlled by their members. Finance Companies: Specialize in making higher-risk loans at higher interest rates.Mutual Savings Banks: State-chartered banks that are owned by depositors (Thrifts. TERM 17
