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Real Estate Investing Definition

The definition of CLO is:

Computerized Loan Origination. A computer network of major lenders that allows agents to initiate mortgage applications in their office. The U.S. Department of Housing and Urban Development (HUD) has approved the procedure as long as full disclosure is made of the fee. Multiple lenders are displayed on the computer screen to give borrowers a basis for comparison and the fee charged is a dollar amount rather than a percentage of the loan.


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