Craig Venezia is an American writer and a nationally-recognized authority on private mortgages.
Ginnie Mae does not invest in private mortgages.
Strictly speaking, clap notes are private mortgages on real estate.
Some critics argue that a purely private mortgage finance market would be perfectly achievable and effective.
The Administration says that even these families have trouble finding private mortgages.
For many buyers, such private mortgages may be the only way to borrow or a means of obtaining a below-market loan.
And, as real estate values increased sharply during the 1990's, some homeowners refinanced because they qualified for more attractive private mortgages.
The Institute is unusual as the miners themselves built it, borrowing the money through a private mortgage.
Caveats abound about seller-financing, sometimes referred to as taking back a mortgage or making a private mortgage.
Over the last decade companies have sprung up offering to buy these private mortgages.