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Methods of structuring organizations to enable them produce large amounts of goods is known as mass production.
<h3>What is mass production?</h3>
Mass production is also referred to as continuous production and it can be defined as a method of production that focuses on manufacturing large quantities of standardized goods.
This ultimately implies that, mass production is a method of structuring organizations that is mainly focused on making a large number of a few goods.
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The two (2) information that are essential for completing an initial mortgage loan application include:
- Proof of income.
- Current debts and credit history.
<h2>
What is a mortgage loan?</h2>
A mortgage loan can be defined as a secured loan that is typically used to finance (purchase) or maintain a property in real estate such as a land, home, etc.
<h3>
The feature of a mortgage loan.</h3>
Basically, a mortgage loan is usually provided to a borrower by a mortgage lender or a financial institution (bank) while an immovable asset (collateral) is promised by the borrower to the mortgage lender in the event that payments are stopped.
During the application of a mortgage loan, the borrower uses his or her home as a collateral. Thus, these two (2) information are essential for completing an initial mortgage loan application:
- Current debts and credit history.
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