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2 firms selected for mortgage securities program - BusinessWeekThe Treasury Department has picked two financial institutions to manage a program it unveiled last month to provide support for beleaguered mortgage-backed securities. The government announced Friday it was hiring Barclays Global Investors of San ...
Mortgage rates fall for fifth straight week - San Francisco GateSunday, September 21, 2008 (09-21) 04:00 PDT Washington -- Rates on 30-year mortgages dropped sharply again last week, falling to the lowest level in seven months, as rates continue to decline after the government's dramatic takeover of mortgage ...
Bulletin Board - San Francisco GateSponsored by Whitney Davis of Zephyr Real Estate and Tina Leonardi of Guarantee Mortgage, 6-7:30 p.m., Opera Plaza, 601 Van Ness Ave., Suite P, San Francisco, free, reservation required, (415) 533-3990. With Sansom Lo of Prudential California Realty ...
Mortgage Rates May Fall After Fannie, Freddie Rescue (Update1) - BloombergSept. 9 (Bloomberg) -- The U.S. government takeover of Fannie Mae and Freddie Mac on Sept. 7 may provide relief for homeowners who want to refinance mortgages and prospective buyers shopping for a loan. The U.S. average 30-year fixed rate fell today ...
Mortgage burden becoming crushing for millions in U.S. - Houston ChronicleMIAMI — Al Ray is so strapped for cash, the only time he eats out is on Wednesday or Sunday, when the local McDonald's sells hamburgers for 49 cents. Ray lost his engineering job last November and has been working as high school tutor, scratching ...
Pelosi: Bailout should help American taxpayers - San Diego Union-TribuneSAN FRANCISCO – House Speaker Nancy Pelosi says the government's massive bailout of the financial system must “insulate Main Street and American taxpayers from the crisis on Wall Street.” Pelosi spoke about the Bush administration's plan to buy ...
Lehman may have waited too long to seek help - MSNBCSAN FRANCISCO - If the mortgage meltdown is like a financial hurricane, then think of Lehman Brothers as a casualty that waited too long to cry for help. By the time that Lehman Brothers Holdings Inc. sent out its distress signal, the U.S. government ...
Dollar gets a lift after U.S. mortgage takeover - MarketwatchSAN FRANCISCO (MarketWatch) -- The U.S. dollar was higher Monday after reversing losses earlier in the global session, as markets weighed and ultimately applauded the U.S. government's massive rescue of mortgage giants Fannie Mae and Freddie Mac ...
Financial hurricane victim Lehman waited too long - Houston ChronicleSAN FRANCISCO — If the mortgage meltdown is like a financial hurricane, then think of Lehman Brothers as a casualty that waited too long to cry for help. By the time that Lehman Brothers Holdings Inc. sent out its distress signal, the U.S ...
Most And Least Expensive U.S. Cities For Renters - ForbesCalifornia house-hunters are squeezed. As credit tightens and the economy softens, many would-be buyers in San Jose, San Francisco and Los Angeles can't find or, in some cases, afford a mortgage. But in areas like these, where housing prices have ...

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Today's Mortgage Terms starting with M
Margin: The percentage difference between the index for a specific loan and the interest rate charged. This is a number already set by the lender.
Market Value: The price at which a given property or product is transacted between a willing, unhurried buyer and a seller who know all the pertinent facts about the property.
Mortgage Banker: A financial institution who directly funds home loans, sells them to investors, arranges monthly payments and handles escrow. Some mortgage bankers sell their loans on the secondary market.
Mortgage Broker: A broker arranges financing for borrowers with a variety of lenders. A mortgage broker does not make the loan, but receives payments for its services.
Mortgage Insurance: It is insurance to protect the lender in case you default on your loan. With conventional loans, mortgage insurance is generally not required if you make a down payment of at least 20% of the home's appraised value. It is also known as PMI (Private Mortgage Insurance).
Mortgage Loan: A loan for which a specific real estate property serves as collateral to provide for repayment in case of default.
Mortgage Refinance: A refinanced mortgage is one in which a borrower pays down an old loan with a new loan. People who refinance a mortgage tend do so to get a lower interest rate, lowering their payments or to take cash out of their home equity.
Mortgagee: The lender in a mortgage loan relationship. Property is used as collateral to make payment.
Mortgagor: The borrower in a mortgage loan relationship. Property is used as collateral to make payment.
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