Sentences with phrase «collect against a borrower»

Not exact matches

By collecting the point up - front and possibly paying it back only if the borrower closes, the lender protects itself against the possibility the customer will defect to another lender during the time before closing.

The second mortgage holder can simply start a lawsuit against the borrower, with the idea that a judgment will be entered against the borrower and the second mortgage company can collect the money owed it without having to go through a foreclosure.

Consumer advocates are concerned that the FTC proposal does not provide for legal action or other sanctions against debt collectors that «step over the line» in attempting to collect debts incurred by deceased borrowers.

Servicers collecting payments on federal PLUS loans can use the same tactics against endorsers that they employ against the delinquent borrowers, including wage garnishment.