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News about Mortgages:
Fitch Takes Various Actions on 1 Bear Stearns Resecuritization ... - EarthtimesNEW YORK - (Business Wire) Fitch Ratings has taken various rating actions on Bear Stearns Structured Products mortgage certificates. The classes represent a beneficial ownership interest in separate trust funds. Bear Stearns Structured Products Trust ...
The Credit Crunch: A Potential Opportunity for Card Issuers - E-Commerce TimesThe credit crisis has its roots in mortgage lending, but it has spilled over into revolving credit as well, writes Mike Fisher, executive vice president of Alterian. Credit card issuers need to evaluate their marketing campaigns to take advantage of ...
JLD Pro Bono Awards: The winners - Lawyer OnlineThe great and the good of the legal world convened at the Law Society last night (Thursday) for the 10th Anniversary of the Junior Lawyers Division Pro Bono Awards. The awards recognised outstanding pro bono work undertaken by students, trainees and ...
Chuck Prince Dances, Banks Play Chicken: Game Theory for Crisis - BloombergNov. 19 (Bloomberg) -- When John Q. Public views the credit crisis, he sees pinstriped bankers getting bailouts and the worst global stock-market slump in more than three decades. Len Fisher sees a game of chicken, an overgrazed pasture, and bankers ...
Aid to Mortgage Giants May Exceed Forecasts Firms' Health Has Worsened ... - Washington PostThe first of the Bush administration's major financial takeovers, the seizure of Fannie Mae and Freddie Mac , is poised to get more expensive and some analysts are warning it may ultimately cost more than the government has suggested. Mounting ...
Freddie seeks gov't aid after $25.3B loss - Charleston GazetteWASHINGTON (AP) -- Freddie Mac is asking for an initial injection of $13.8 billion in government aid after posting a massive quarterly loss Friday. The mortgage finance company is making the first request to tap the $200 billion promised by the ...
Freddie Mac asks for $13.8 billion from bailout fund - Los Angeles TimesReporting from Washington -- Freddie Mac is asking for an initial injection of $13.8 billion in government aid after posting a massive quarterly loss Friday. The mortgage firm is making the first request to tap the $200 billion promised by the ...
Freddie Mac wants bailout aid to kick in - Nashville TennesseanWASHINGTON — Freddie Mac is asking for an initial injection of $13.8 billion in government aid after posting a massive quarterly loss Friday. The mortgage finance company is making the first request to tap the $200 billion promised by the Treasury ...
Freddie seeks 1st injection after posting huge 3Q loss - Baltimore SunWASHINGTON - Freddie Mac is asking for an initial injection of $13.8 billion in government aid after posting a huge quarterly loss yesterday. The mortgage finance company is making the first request to tap the $200 billion promised by the Treasury ...
Freddie wants more - Newark Star-LedgerFreddie Mac is asking for an initial injection of $13.8 billion in government aid after posting a massive quarterly loss yesterday. The mortgage finance company is making the first request to tap the $200 billion promised by the Treasury Department ...
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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