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Hurricane season, insurance writing don't mix - Birmingham News
Nothing says "deal killer" like a hurricane hovering in the Gulf of Mexico. Broker Bruce Pfeiffer had four sales pending when Hurricane Katrina hit the Gulf Coast in 2005. One sale was canceled because of storm damage, and the other three closings ...

Fed Rescue of Lending Giants Imminent - FOX News
WASHINGTON — Congressional leaders seized on the enormous implications for taxpayers and the economy as the historic takeover of Fannie Mae and Freddie Mac could come as soon as Sunday. Fannie Mae and Freddie Mac together hold or back half of the ...

Tropical Storm Hanna drenches Eastern seaboard; strengthening ... - Minneapolis Star Tribune
Powerful Hurricane Ike looms as trouble for Gulf Ike blasts Turks and Caicos as Category 4 storm Obama, McCain call for changes in mortgage giants London calling at New York Fashion Week High-resolution satellite launched in California BOSTON ...

Wary of Ike after weathering Andrew - Minneapolis Star Tribune
Obama, McCain call for changes in mortgage giants Powerful storm raises fears from Caribbean to Gulf From anguish of 9/11, two learn to love again House explosion kills 2 in Chicago suburb Miami gets the peacock blues Ike is still far out in the ...

Gulf suffers its own liquidity squeeze - Gulf News
When the subprime mortgage market bubble burst to devastating effect for financial markets, many argued that the Gulf would be protected from the credit crunch by robust economic growth and a profusion of petrodollars coming into the region. Until ...

Canadian seal hunt begins - Independent
Share CANADA 'S controversial annual seal hunt opened yesterday in the southern Gulf of St Lawrence , where ice conditions were described as the worst in a decade. About 40 boats from Nova Scotia , New Brunswick and Prince Edward Island are eligible ...

Gulf's rich just get richer - report - ArabianBusiness.com
Even as world financial markets broke down last year, personal wealth around the world grew five percent to $109.5 trillion, according to a global wealth report by Boston Consulting Group. It was the sixth consecutive year of expanding wealth. The ...

Rescue Dawn - Slate
The Washington Post , the Wall Street Journal and the New York Times all lead on news that government officials are poised to rescue Fannie Mae and Freddie Mac by placing the flailing mortgage-finance giants under federal control. The plan would see ...

News from Saturday, September 6 - Blueridgenow.com
Microsoft Works to Perfect Windows Vista 23 min ago Paralympic Athletes Add Equality to Their Goals 23 min ago Judge to Unseal Documents on the Eli Lilly Drug Zyprexa 23 min ago Young Teacher Missing in New York City 5 hrs ago Florida Officials: Get ...

Wall Street plunges as retail sales reports, jobless data add to ... - Allentown Morning Call
NEW YORK (AP) _ Dejected investors sent stocks plunging Thursday, hurtling the Dow Jones industrials down more than 340 points after retailers and the government added to a mountain of bad economic news and devastated hopes for a late-year recovery ...

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Today's Mortgage Terms starting with C

  • Cash To Close: Liquid assets that are available on hand for payment of closing costs involved in the processing of a mortgage transaction.
  • Closing: The completion of a real estate transaction. The closing includes the delivery of a deed, financial adjustments, signing of notes and disbursement of funds required to finalize the sale and loan transaction.
  • Closing Costs: Fees generally paid by the borrower in relation to the closing of a mortgage loan.
  • Collateral: Property pledged as security for a debt.
  • Conforming Loan: Conventional home mortgages eligible for sale and delivery to either the Federal National Mortgage Association (FNMA) or the Federal Home Loan Mortgage Corporation (FHLMC). These agencies generally buys first mortgages up to loan amounts approved by Congressional directive.
  • Conventional Loan: Loans that are not part of any government housing program, free of any restrictions of government insured housing programs, such as loan size limits.
  • Conversion Clause: A feature in certain ARMs that gives you the option to convert the variable rate loan to a fixed-rate loan, usually after the first adjustment period. The new fixed rate will be set at current rates and there could be a fee for the conversion feature.
  • Convertible ARM: A type of ARM loan that can be converted to a fixed-rate loan after a certain time period.
  • Covenant: A clause in a contract that obligates or restricts the parties and if broken, can result in a legal action.
  • Credit Bureau: It is a clearinghouse for credit history information.
  • Credit Report: A report containing a detailed credit history of an individual.
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