which of the following is specialized in lending money for the purpose of developing real estate?
Answer Details
The institution that is specialized in lending money for the purpose of developing real estate is a "mortgage bank". A mortgage bank provides loans specifically for real estate purchases, construction, and development. These loans are secured by the property itself, which means that the property serves as collateral for the loan. Mortgage banks usually have longer loan terms and offer lower interest rates compared to commercial banks, as their business is solely focused on real estate lending.