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American Pacific Mortgage Makes Big Impact at CAMB Annual Convention - ForbesROSEVILLE, Calif., Aug. 27 /PRNewswire/ -- "Despite the black cloud hanging over the mortgage industry, the California Association of Mortgage Brokers (CAMB) annual convention, held August 6th-9th in Sacramento, was a success," says Kurt Reisig, CEO ...
To Investors, Freddie's Cushion Was Thin - Washington PostFreddie Mac , which has lost more than 90 percent of its stock value since last fall, has repeatedly tried to dampen talk of a government bailout by highlighting the amount of capital it has on hand to weather problems. A presentation by top ...
New Issue-Sierra Pacific Power sells $250 mln debt - ReutersAug 27 (Reuters) - Sierra Pacific Power Co, a subsidiary of Sierra Pacific Resources (SRP.N: Quote , Profile , Research , Stock Buzz ), on Wednesday sold $250 million of five-year general and refunding mortgage bonds, said IFR, a Thomson Reuters ...
LenderLive Network Becomes Parent Company to Guardian Mortgage ... - ForbesLenderLive Network, Inc., a company that provides business process outsourcing and technology to the financial industry, announced this week it has purchased the assets of Colorado-based Guardian Mortgage Documents (GMD), which has provided document ...
Obama, McCain on the issues - CNBCMcCain: Opposes abortion rights. Has voted for abortion restrictions permissible under Roe v. Wade, and now says he would seek to overturn that guarantee of abortion rights while being open to a running mate who supports abortion rights. Would not ...
Viewpoint: Latest trends have that 1990s look - Guardian UnlimitedOne of the consolations in the current weak property market was meant to be the idea that, however bad things appear, the position is not as bleak as it was in the early 1990s. In one sense, this is still true. Repossessions are still running at ...
Rally ends; Dow falls 283 - Baltimore SunNEW YORK - Wall Street abruptly ended an earnings-driven rally and closed sharply lower yesterday after a steeper-than-expected decline in existing-home sales and worries about the financial sector chilled the market's recent optimism. The major ...
Obama: We are better than these last eight years - CNN(CNN) -- Democratic presidential candidate Barack Obama spoke to the Democratic National Convention on Thursday. Here are excerpts of that speech, released before it was delivered: People file into Invesco Field as they await Barack Obama's ...
Fannie Sells $2 Billion in Debt at Higher Yields (Update1) - BloombergAug. 27 (Bloomberg) -- Fannie Mae , the largest U.S. mortgage-finance company, sold $2 billion of short-term notes at its highest yields versus benchmark rates in a weekly auction since July 23 to attract buyers. Fannie Mae sold $1 billion of three ...
Hit us with a tax and the public will pay for it, energy chiefs say - Times OnlineThe energy industry has claimed that the public would bear the brunt of a windfall tax, giving warning that there was serious risk of bills going up. Half of Britain's energy companies have already raised their bills twice this year and the remainder ...

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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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