"Leading Edge" with Host Jimmy Johnson Examines Mortgage Lending Practices

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Housing Industry is Put Under the Microscope

The decision to buy a new home can make it easy to assume that a mortgage is the best way to achieve your dreams. Although a mortgage loan may be appropriate, learning about how the industry works and the lending practices that you can expect when you apply for a new loan can help determine the best course of action for your family.

Mortgage lending practices can take on many different forms, depending on the type of loan you want to obtain. In many cases, you will fill out a loan application and the lender will run your credit history report. You may be required to provide proof of income, proof of identity and the past two years of tax returns to qualify for a loan from some lenders. The exact paperwork that lenders require can vary in different states.

The "Leading Edge" program will begin working with mortgage specialists to learn more about these practices. Depending on your credit history, the lender and the type of loan you requested, the interest rate you are offered will vary. In some cases, lenders will deny a loan because the individual has a low credit score or has a risky credit history. Others will face a high interest rate for the same reasons. Regardless of the interest rate that is offered, mortgage lenders are required to fully disclose every fee, charge and interest expense before issuing the funds.

"Leading Edge" with Jimmy Johnson will explore mortgage lending practices and explain how lenders determine the interest rate that they offer. The segments will explain the different types of loans, the way they differ and the signs of predatory lending during the segment.

Discover the truth behind the mortgage lending industry. "Leading Edge" is available on public television. Visit http://www.leadingedgeseries.com to learn more about the segments or series that are available. "Leading Edge" is not affiliated with PBS.

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Matt Aaron
Leading Edge
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