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MOVING IN: Hartford - Hartford CourantWhen Ingrid Baker came to Connecticut from Jamaica two years ago, she moved into a rental owned by her uncle. After a year, she decided to buy a home within her son's high school district in Hartford. Between April and September, Baker's plans got ...
Fannie Mae Taps CFO: Former Hartford Finance Chief David Johnson - CFO.comFannie Mae tapped outspoken financial-services-industry veteran David M. Johnson to serve as the embattled mortgage giant's executive vice president and CFO, effective immediately. Johnson — remarkably, the third CFO at Fannie Mae in this troubled ...
Fannie Mae Names Hartford Financial's Johnson As Financial Chief - CNN MoneyFannie Mae (FNM) made its second chief financial officer appointment of the year as the struggling mortgage company's chief executive continues to install his own management team. The company hired David M. Johnson from Hartford Financial Services ...
Fannie CFO Johnson's Pay Starts at $625,000 - CFO.comFor the big finance job ahead for Fannie Mae, the company detailed the pay plan for new CFO David M. Johnson. At the center of the incentives-laced package is a $625,000 annual salary that is slightly lower than what his predecessor received. The ...
Fannie Mae names new CFO - Banking Business ReviewMr Johnson comes to the Federal National Mortgage Association (Fannie Mae) from Hartford Financial Services Group, where he was executive vice president and CFO. The company also said that David Hisey would continue to serve as its executive vice ...
Fannie Mae names Johnson chief financial officer - CNN MoneyNEW YORK (Associated Press) - Fannie Mae said Tuesday it named David Johnson to serve as the mortgage giant's chief financial officer and executive vice president, beginning immediately. Johnson joins the company from Hartford Financial Services ...
Fannie Mae gets third CFO in three months - Birmingham Business JournalEmbattled mortgage giant Fannie Mae named David M. Johnson its new chief financial officer. Johnson comes by way of Hartford-Conn.-based insurance giant Hartford Financial Services Group , where he was CFO. Before that, he was CFO at Cendant Corp ...
Movers roundup: Fannie Mae, STMicroelectronics - Boston GlobeNEW YORK (AP) -- Shares of mortgage lender Fannie Mae surged nearly 75 percent Friday after the company said it is considering a reverse-stock split to help meet New York Stock Exchange listing requirements. NEW YORK (AP) -- STMicroelectronics NV's ...
Fed Aid Sets Off a Rush to Refinance - Wall Street JournalThe Federal Reserve's attempt to stabilize the housing market set off a chain reaction across the U.S. on Tuesday, dropping interest rates and quickly spurring a burst of refinancing activity by borrowers eager to lower their mortgage costs. Some ...
Some residents live in fear of foreclosure - Register CitizenElizabeth Jamieson is a self-employed foreclosure inspector. Usually, an inspector visits 100 homes or so per month. Last month, Jamieson inspected 200 houses. “I am the first person who finds a vacant property. It’s an eerie sight,” she said ...
Today's Mortgage Terms starting with A
Accrued Interest: Interest earned but has not been paid
Additional Principal Payment: A payment made by the borrower of more than the scheduled principal amount due with the purpose of reducing the remaining balance on the loan.
Adjustable Rate Mortgage: Loans with interest rates that are adjusted periodically based on changes of a pre-determined index. The index is based on market rates such as Treasury bills and prime rates. The ARM has an interest rate cap that limits the amount the interest rate can change.
Adjustment Period: Applicable to an ARM, the time between changes in the interest rate.
Amortization: Repayment of a debt with periodic payments, usually monthly, of principal and interest calculated to pay down the loan within a predetermined time.
Amortization Schedule: A timetable for payment of a mortgage detailing the amount of each payment applied to interest and principal and the balance left outstanding.
Annual Percentage Rate (APR): The cost of credit shown as a yearly rate. The annual percentage rate is usually not the same as the interest rate. The APR will be higher than the interest rate stated in the note due to the fact that it includes the interest rate, loan discount points, fees and mortgage insurance.
Appraisal Fee: A fee charged by a licensed, certified appraiser for a written estimate of a property's current market value at a specific time.
Assumable Mortgage: A mortgage that can be taken over by the buyer when a home is sold by the previous owner.
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