This Act makes provision for the establishment and execution of mortgages and other matters relating to land-based credit. Its purpose is to establish a system of mortgage law in Pohnpei which will induce lenders to make secured commercial and residential loans, while at the same time ensuring that borrowers who execute mortgages of property in Pohnpei have a full comprehension of the nature and consequences thereof and that the parties to the mortgage are protected against unfair practices. A n