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UPDATE 1-Canada PM doesn't see U.S.-scale mortgage crisis - Forbes
OTTAWA, Sept 7 (Reuters) - Canada will avert a mortgage crisis of the kind that is afflicting the United States, partly because it has not underwritten mortgage finance giants like Fannie Mae , Prime Minister Stephen Harper said on Sunday. 'In Canada ...

US mortgage giants nationalised - MSN UK News
The US government has announced it is to take control of the country's biggest mortgage lenders. The Federal Housing Finance Agency will manage finance giants Fannie Mae and Freddie Mac temporarily, drawing comparisons with the British Government's ...

U.S. Bails Out Mortgage Giants - Forbes
Fannie Mae and Freddie Mac are getting new chief executives and a new lease on life in a government rescue plan outlined Sunday by the Treasury Department and other regulators. Treasury is buying preferred shares in the two firms and taking them over ...

Federal gov't announce takeover of mortgage giants - CNBC
WASHINGTON - The Bush administration, acting to avert the potential for major financial turmoil, says the federal government was taking control of mortgage giants Fannie Mae and Freddie Mac. Officials announced that the executives of both ...

US mortgage giants Freddie Mac and Fannie Mae taken into public ... - Guardian Unlimited
The US government today announced the biggest financial bailout in the country's history as it took troubled mortgage giants Freddie Mac and Fannie Mae into temporary public ownership to save them from collapse. The US treasury secretary, Henry ...

Biden: Protect taxpayers in mortgage rescue - San Diego Union-Tribune
WASHINGTON – Joe Biden says the government's rescue of the big mortgage companies Freddie Mac and Fannie Mae should not mean bailing out shareholders at the expense of taxpayers. The Democratic nominee for vice president says it is important to ...

U.S. seizes Fannie and Freddie - CNN Money
NEW YORK (CNNMoney.com) -- Federal officials unveiled an extraordinary takeover on Sunday of troubled mortgage giants Fannie Mae and Freddie Mac, signaling the most dramatic move to date aimed at shoring up the nation's housing market. The plan ...

INSTANT VIEW: U.S. takes over Fannie Mae and Freddie Mac - Reuters
NEW YORK (Reuters) - The U.S. government announced on Sunday that it was taking control of troubled mortgage finance giants Fannie Mae and Freddie Mac, in its latest effort to shore up the slumping housing market. KEY POINTS: * The regulator of the ...

Paulson's announcement on Fannie, Freddie - CNN Money
NEW YORK (CNNMoney.com) -- Here is the statement by Treasury Secretary Henry Paulson on Treasury and Federal Housing Finance Agency action to protect financial markets and taxpayers: Good morning. I'm joined here by Jim Lockhart, Director of the new ...

U.S. announces takeover of Fannie and Freddie - International Herald Tribune
WASHINGTON : The U.S. Treasury Department on Sunday seized control of Fannie Mae and Freddie Mac, the giant quasi-public mortgage finance companies, and announced a four-part rescue plan that includes an open-ended guarantee to provide as much ...

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Today's Mortgage Terms starting with B

  • Bankruptcy: A legal procedure in a federal court to relieve certain debts of a person or a business that is no longer able to pay its debts. Chapter 7 bankruptcy removes all debts. Chapter 13 lets a borrower with and income to pay bills off over a set period of time.
  • Bearer: The legal owner of a property.
  • Bill of Sale: A document that details the transfer of property.
  • Biweekly Mortgage: A mortgage with payments due every two weeks, totaling 26 payments a year, two payments more than a mortgage with monthly payments. The two extra payments lowers significantly the interest paid over the life of the mortgage.
  • Blanket Mortgage: A mortgage that includes more than one piece of real estate
  • Borrower (Mortgager): An individual who makes an application for and receives funds in the form of a loan and is obligated to repay the loan in full under the conditions of the loan.
  • Broker: An individual who gets buyers and sellers together and helps in negotiating contracts for a client.
  • Buy-Down Mortgage: A mortgage loan with a lower than market rate for a determined period of time.
  • Buyer’s Market: Market conditions that favor buyers. When there are more properties for sale than buyers, sellers may be forced to provide price discounts to close the transaction.
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