Something that was a strong point of (supposed) fact in the meeting at Kilkenny was that mortgage loans now are not called ‘mortgage loans’ instead they are ‘lines of credit’.
It was also implied that the change of language was very important and meant something.
As a person working in this industry daily that caught me by surprise, thankfully, and unlike other attendees we have the resources to look into this.
See the pdf scan for yourself. The person who said this was telling the truth, at least in part, the ‘credit facility’ thing is mentioned, but elsewhere it’s all about ‘mortgage’ and ‘mortgage loan’, the entire concept is misguided.
If you click on the loan document (click the picture) you’ll see on the first page that it does mention ‘credit facility’ – albeit the scan I did was awful because I had to double black out personal …