Question 8. Wraparound Mortgage. WA mortgagee? to buy out the investor's (a) What are the most important advantages of a WA mortgage to the (b) What advantage does the WA format hold for the WA mortgagor? WA loan than on a conventional second mortgage while the WA mortgagor pays a lower rate of interest on the WA mortgage than on a conventional second? (d) When a WA mortgagor defaults and the WA mortgagee forecloses, should the surplus, if any, from the foreclosure sale belong to the senior mortgagee or the WA mortgagor?