1. Why is there so much variety in loan documentation among the various states? Would a uniform national system be useful? Explain why or why not.
2. What is to keep an unscrupulous seller under an installment contract from mortgaging the property after the installment contract has been negotiated, so that the buyer discovers a first mortgage lien on the property when the deed is eventually delivered?
3. There were very few successful mortgage loan innovations in this country during the 1950s and 1960s. Then, the following two decades witnessed a spate of innovations. What might have caused this abrupt shift in the rate of innovation?