05-05-2014, 05:01 PM
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Making PHP work
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Join Date: Nov 2002
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Posts: 20,621
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Quote:
Some of the most important characteristics of a savings and loan association are:
It is generally a locally owned and privately managed home financing institution.
It receives individuals' savings and uses these funds to make long-term amortized loans to home purchasers.
It makes loans for the construction, purchase, repair, or refinancing of houses.
It is state or federally chartered.[1]
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