Illinois Mortgage Bankers Association

111 W Washington St

Chicago, IL 60602
(312) 236-6208

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1. Who is responsible for the mortgage? The owner of the mortgage is not the Mortgage Manager, but the original provider of the funds, w...
2. Are there different types of mortgages? Yes. The two basic types of mortgages are fixed rate and adjustable rate. Fixed Rate Mortgages I...
3. What is a "Mortgage Insurance Premium (MIP)"? A mortgage insurance premium is a policy that insures the lender against loss if the homeowner ...
4. Are FHA mortgage processes complicated? No more so than conventional mortgage processes. FHA financing procedures have slimmed down in t...
5. What is a mortgage lender? A mortgage lender is a financial institution that provides prospective homeowners with the funds...
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