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DISTRAINT The right of a landlord, pursuant to a court order, to seize a tenants belongings for rents in arrears. WAREHOUSING A term used in financing to describe the process which loan correspondents employ, assembling into one package a number of mortgage loans which the correspondent has originated and selling them in the secondary mortgage market. DURESS Unlawful constraint or action exercised upon a person whereby he is forced to perform some act against his will. A contract entered into under duress is void. FREDDIE MAC A common nickname for the Federal Home Loan Mortgage Corporation. NEGOTIABLE INSTRUMENT Any written instrument which may be transferred by endorsement or delivery so as to vest legal title in the transferee. |
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