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Lenders' mortgage rationing claim - BBC NewsMichael Coogan, director general of the Council of Mortgage Lenders (CML), said there were fewer active lenders - and with less money. He suggested that mirroring 2008 lending levels next year would be "a real challenge". Small institutions are set ...
Government risks making mortgage crisis worse, say lenders - Daily TelegraphGovernment risks making mortgage crisis worse, say lenders Michael Coogan, the director general of the Council of Mortgage Lenders, has launched a scathing attack on the Government for failing to deal with the mortgage crisis and warned that ...
Mortgage market will 'grind to a halt' - Guardian UnlimitedThe mortgage market will come to a standstill next year unless the government takes further action to help banks and building societies, the Council of Mortgage Lenders (CML) said today. Director general, Michael Coogan, raised the prospect of ...
Mortgage lending set to fall further - Shropshire StarThe government’s aim of returning mortgage lending to 2007 levels is unrealistic, the Council of Mortgage Lenders (CML) has warned. As a condition of recapitalising the banks, the government has urged lenders to return to pre-credit crunch lending ...
UK mortgages chief sees 2009 lending down on 2007 - ForbesLONDON, Dec 2 (Reuters) - UK mortgage lending in 2009 will remain below 2007 levels, despite government pressure on banks to match last year's lending volumes, the head of Britain's mortgage industry association said on Tuesday. Michael Coogan ...
Mortgages chief sees 2009 lending down on 2007 - Reuters UKLONDON (Reuters) - Mortgage lending in 2009 will remain below 2007 levels, despite government pressure on banks to match last year's lending volumes, the head of Britain's mortgage industry association said on Tuesday. Michael Coogan, Director ...
Home buyers save hundreds, but will they spend it? - AgeAUSTRALIA'S home buyers will save hundreds of dollars on their mortgages in the lead-up to Christmas after the Reserve Bank cut interest rates to their lowest level in seven years. And the cuts are expected to continue into next year, with the ...
Housing: Government to underwrite mortgage loans - Scotsman.comTHE government has backed a call for it to underwrite billions of pounds of mortgage lending. In his Pre-Budget Report, Chancellor Alistair Darling accepted recommendations in Sir James Crosby's review of mortgage funding, which said the government ...
Mortgage Rates Fall as U.S. Expands Rescue - Wall Street JournalU.S. officials pledged to pump another $800 billion into ailing credit markets, much of it directly from the Federal Reserve -- a move that makes the nation's central bank a lender to almost every corner of American life. The Fed, whose traditional ...
Ben Bernanke's Big Housing Plan - US News and World ReportOK, so the Fed said it will purchase a) up to $100 billion in GSE debt and b) up to $500 billion in mortgage-backed securities backed by the GSEs. Why is this important? Michael Feroli of JPMorgan Chase says "it will measurably improve conditions in ...
Today's Mortgage Terms starting with S
Second Mortgage: An additional mortgage that has rights that are secondary to the first mortgage.
Seller’s Market: Market conditions that are favorable to sellers. There are more buyers than properties available for sale. The buyers may be forced to compete and pay more for the same property.
Settlement Costs: Money paid by the borrowers and sellers to complete the closing of a mortgage.
Settlement Cost (HUD Guide): HUD publishes a booklet that gives an overview of the lending process and is given to consumers after completing their loan application.
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