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Cleveland, Columbus lagging Cincinnati - Cincinnati.com
Ohio has had the dubious distinction of appearing among the ranks of those states with foreclosure rates higher than the national average. In the latest release of the Mortgage Bankers Association's National Delinquency Survey, Ohio, Florida, Nevada ...

Paulson says changes needed at Fannie, Freddie - Cleveland Plain Dealer Blog
Associated Press File Treasury Secretary Henry Paulson says allowing mortgage giants Fannie Mae and Freddie Mac to return to their old operating ways is not an option. WASHINGTON -- Treasury Secretary Henry Paulson says allowing mortgage giants ...

PR Newswire Provides Grant to Ronald McDonald House and Habitat for ... - StreetInsider.com
Cleveland-Based PR Newswire Staff Volunteer Time As Part of the Company's 'Doing Well by Doing Good' Initiative CLEVELAND, Jan. 5 /PRNewswire/ -- Ronald McDonald House of Cleveland and the Greater Cleveland Habitat for Humanity, two non-profit ...

AmTrust submits turnaround plan to regulators - Cleveland Plain Dealer
After being cited for unsound banking practices and losing money the last two quarters, Cleveland's AmTrust said Tuesday that it has submitted a turnaround plan to regulators. Spokeswoman Donna Winfield said the plan was submitted Monday to the ...

2009 economy could remain gloomy for Northeast Ohio - WKYC
CLEVELAND -- Whether you use a crystal ball or a computer program, the economic numbers still don't look good for the Cleveland area. It is very possible that 2009 may be just as bad, if not worse, than 2008 across Northeast Ohio. Now that National ...

Lawsuit Targets Banks With Novel Tactic - The Washington Independent.com
Some Cleveland neighborhoods have a message for banks that abandon their foreclosed houses or unload them at fire sale prices to speculators: Stop dumping your trash on us. Illustration by: Matt Mahurin Using a novel legal technique that could be ...

Greater Cleveland home prices decline; fare better than other areas - Cleveland Plain Dealer
Home prices in Greater Cleveland declined in October for the second straight month, but most metropolitan areas fared far worse, according to data released Tuesday. Cleveland-area prices declined 6.2 percent from October 2007, the Standard & Poor's ...

Sale of IndyMac to investors may be near - Cleveland Plain Dealer Blog
Associated Press File Federal regulators are moving to sell the remnants of failed IndyMac Bank to a group of private investors as soon as Friday. Updated at 1:25 p.m. WASHINGTON -- Federal regulators could announce a deal to sell off failed IndyMac ...

Homebuilders push to get their housing aid plan into Obama's economic ... - Minneapolis Star Tribune
WASHINGTON - With lawmakers angling to pass an economic recovery package by the middle of next month, desperate homebuilders from around the country flew to Washington to spend Wednesday pushing a $150 billion plan to revive the housing market. The ...

New PNC size raises questions - Pittsburgh Tribune Review
As PNC Financial Services Group prepares to complete its acquisition of National City Corp. on Wednesday and more than double its branch count, PNC could ramp up a national mortgage banking business. But don't bet on it, said industry analysts on ...

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Today's Mortgage Terms starting with E

  • Equity: The difference between the current market value of a property and the total debt outstanding against the property.
  • Escrow: A transaction in which a third party represents both the buyer and seller, or for borrower and lender, involving the handling of legal documents and disbursement of funds. In some parts of the US, escrow of taxes and insurance premiums are referred to as impound or reserves.
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