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Mortgage Lenders in California Key Terms

Learn mortgage lenders in California key terms for wise business negotiations
By Christine Pollock In California, there are many kinds of mortgage lenders. Finding a mortgage lender offering the best options and terms can be a time-consuming project. When you have an understanding of these key terms, it's easier to determine which services best suit your business purposes.

Commercial lines

Commercial lines refer to a type of liability and property coverage written specifically for businesses, rather than for personal lines.
Try:  Axia Real Estate Group offers eligibility requirements and a summary of program parameters for those interested in learning more about commercial lines for business.

Commercial lenders

A commercial lender is a United States mortgage broker that offers loans which have hard collateral backing. Business people use this type of loan for apartments, hotels and retail venues.
Try:  C-Loans offers a website where business owners in California can find a commercial lender.

The Federal National Mortgage Association

The Federal National Mortgage Association (FNMA), also called Fannie Mae, purchases conventional mortgages, VA mortgages and FHA mortgages from primary lenders. It's the largest United States single home mortgage holder.
Try:  The Los Angeles Times offers information related to businesses and the Federal National Mortgage Association in California.

FHA mortgage

A lender has insurance against any loss through the Federal Housing Administration with an FHA mortgage, if the borrower pays a premium for his or her mortgage insurance. A benefit of an FHA mortgage is a low down payment.
Try:  The Mortgage Loan Place defines why a business might want to obtain an FHA mortgage.

Wholesale lender

A wholesale lender is one that provides loans using correspondence or mortgage brokers which initiate the loan transaction, take the application from the borrower then process the borrower's loan.
Try:  ProGroup Management offers a list of mortgage brokers in the state of California, including wholesale lenders.

California Mortgage Bankers Association

The California Mortgage Bankers Association (CMBA) is an association that dedicates itself to promoting ethical practices in business and growth in the real estate industry, particularly in regards to finance.
Try:  The California Mortgage Bankers Association offers membership for California business professionals looking for networking opportunities and resources.

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