Lee Mortgage Rates and Information Online from competing Lenders

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Lee’s Summit man gets five years for mortgage fraud - Kansas City Business Journal
A Lee’s Summit man was sentenced Friday in federal court in Kansas City to five years and three months in prison without parole for his role in a $5 million mortgage-fraud conspiracy. District Judge Gary Fenner sentenced Eric Kendall Taylor, 37 ...

Ed McMahon's Home and the Dreaded Short Sale - BusinessWeek
The mortgage woes of Ed McMahon may be coming to a head. His six bedroom, 7,000 square foot Beverly Hills home is scheduled to go up for auction on Oct. 2. The former Tonight Show announcer ran into financial difficulties earlier this year and his ...

McMahon's Loan May Be Bought by Foreclosure Trackers (Update1) - Bloomberg
Sept. 9 (Bloomberg) -- Ed McMahon 's mortgage on his estate near Beverly Hills, California, may be bought by Foreclosure Trackers Inc., which said it would allow the former ``Tonight Show'' sidekick to remain in the home. Foreclosure Trackers, which ...

Pressure builds on HBOS as shares suffer further fall - Guardian Unlimited
Shares in Britain’s biggest mortgage lender, HBOS, fell 22% yesterday on concerns over its funding. Photograph: Sarah Lee The banking group HBOS endured another torrid day on the stock market yesterday, losing 40% of its market value by mid ...

Around the nation - Houston Chronicle
Ed McMahon's mortgage on his estate near Beverly Hills, Calif., may be bought by Foreclosure Trackers, which said it would allow the former Tonight Show sidekick to remain in the home. Foreclosure Trackers, which invests in mortgages on homes facing ...

Lee More - FXStreet.com
Lee More, age 30, was born and raised in New York. After attending Boston University and attaining a BA in Economics at the ripe age of 20, Lee went on to manage a number of firms in the field of money markets as well as the mortgage markets. Once ...

PM Lee says impact of weak US economy will be felt longer - Channel NewsAsia
SINGAPORE: The US government's takeover of giant mortgage finance companies, Fannie Mae and Freddie Mac, rallied markets all over Asia on Monday. But Singapore's Prime Minister Lee Hsien Loong, speaking at a gala reception at the Forbes Global CEO ...

B&B slashes hundreds of mortgage jobs, throwing future into doubt - Times Online
Embattled mortgage bank Bradford & Bingley (B&B) announced plans to sack 370 people today as its future as an independent business was thrown into fresh doubt. Shares in the bank, which is grappling with a flood of buy-to-let mortgages turning sour ...

Real estate investor sentenced in fraud - Blue Springs Examiner
A Lee’s Summit man was sentenced in federal court Friday for his role in a $5 million mortgage fraud conspiracy. Eric Kendall Taylor, 37, of Lee’s Summit, was sentenced by Judge Gary A. Fenner to five years and three months in federal prison ...

Tribune Co. - Chicago Tribune
Now, it's an even 100 years for the Chicago Cubs. The team that posted the best record in the National League is picking up the pieces again after three horrendous performances that resulted in a sweep by the Los Angeles Dodgers in the opening round ...

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Today's Mortgage Terms starting with F

  • Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac): A semi government agency that acquires conventional loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
  • Federal Housing Administration (FHA): A federal agency within the Department of Housing and Urban Development (HUD), which insures residential mortgage loans made by private lenders and sets standards for underwriting mortgage loans.
  • Federal National Mortgage Association (FNMA or Fannie Mae): This agency purchases loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
  • FHA Loans: Fixed or adjustable-rate loans that are insured by the U.S. Department of Housing and Urban Development. The purpose of FHA loans is to make housing more affordable, especially for first-time homebuyers.
  • First Mortgage: A mortgage which is in first lien, taking priority over all other liens. In case of a foreclosure, the first mortgage will be repaid before any other mortgages.
  • Fixed Rate Loan: Fixed-rate loans have interest rates and payments that are fixed through out the term of the loan.
  • Foreclosure: A legal process in which a mortgaged property may be liquidated to pay off a mortgage loan that is in default.
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