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First, the lender needs to know whether a would-be borrower is a good risk.
"A drive-by of the property might be all the lender needs".
To complete the refinancing, the second lender needs to agree to remain second in line should the new loan default.
Korea Exchange, the nation's fifth-largest lender, needs money to bolster capital eroded by provisions for bad loans.
Announcements of auctions are usually printed in local newspapers; the starting bid is typically only what the lender needs to cover its costs.
BEFORE anyone can buy a house with a loan from a bank or refinance a mortgage, the lender needs an objective assessment of the property's value — after all, the home is the bank's collateral for the loan.
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The regulators are also supposed to determine what constitutes a "qualified residential mortgage" — one that is so safe that the lender need not retain any of the risk.
In 1991, my father wanted to purchase a two-family house, but since he had no credit background the lender needed additional co-signers.
A month later, after Bankia's new management announced that the lender needed 19 billion euros, or $25 billion, in additional capital, Madrid negotiated a 100 billion euro rescue package for the country's banking industry.
The 452-page examination carried out by the Financial Services Authority FSAA) into why the lender needed a £45.5 billion rescue confirmed that none of the directors will face enforcement action from the regulator.
A base in France could be thwarted if the lender needed help and the government had to choose between saving historically French lenders and a newcomer, he adds.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com