A mortgage bank is primarily concerned with financing the acquisition of

A mortgage bank is primarily concerned with financing the acquisition of dwelling houses. A dwelling house is a place where people live, such as a house or apartment. Mortgage banks specialize in providing loans, called mortgages, to people who want to buy a house or property. The mortgage is secured by the property being purchased, which means that if the borrower fails to make the required payments, the mortgage bank has the right to take possession of the property and sell it to recover the outstanding balance on the loan. By providing financing for the acquisition of dwelling houses, mortgage banks help individuals and families achieve their dream of homeownership, which is an important goal for many people.