Research Paper on:
Lending Institutions and Practices of Mortgage Lending

Unformatted Sample Text from the Research Paper:
process and obtaining a loan from one institution could be better than another, dependent on a variety of factors. People with bad credit must take what they can get, but  consumers with good credit and a hefty down payment can pick and choose. Because everyone comes from different financial circumstances, choosing among institutions can be difficult. When comparing savings and  loans with commercial lenders and mortgage brokers, one sees a different range of options, charges and requirements. What are these differences? First, it is important to note that  there have been dramatic changes in the residential mortgage market over the past fifteen years which has revealed significantly different system of finance (Tuccillo 51). At the beginning of  the eighties, mortgages were primarily the province of government chartered and subsidized specialty deposit institutions and only some activity had been generated through a federally sponsored secondary market (51). The  dominant product was the thirty year fixed-rate mortgage but as the nineties emerged, the business had been dominated by a secondary market which included Fannie Mae and Freddie Mac (51).  The emergence of this secondary market and the application of financial technology to the mortgage industry has created significant changes (51). Rates, terms, payment schedules and so forth  seem to be up for grabs in a world where mortgages "can be put through a financial Vegematic and emerge on the other side as collateral for publicly traded securities"  (51). In other words, with new products, and a broader range, formerly untouchable clients are able to secure loans. However, in recent days, the banking bill amendment had angered some  in the sector. The banking bill amendment appeared innocent as it passed the House of Representatives on a voice vote and allowed Fannie Mae and Freddie Mac an exemption