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Financial News
Smaller mortgage lenders see opportunity - Daily Business Review
s many of the biggest U.S. banks continue to pare back their mortgage lending, some smaller financial institutions see global financial turmoil as an opportunity to pick up market share. The eight largest mortgage lenders, as measured by total volume ...

Shock of job loss hits Wilmington - Cincinnati.com
WILMINGTON, Ohio –  This is what a recession looks like: Empty storefronts in the heart of downtown with “For Rent” and “For Sale” signs hanging in the windows. This is what a recession sounds like: The voices of hundreds of parents ...

Wilmington: Now what? - Cincinnati.com
WILMINGTON, Ohio - This is what a recession looks like: Empty storefronts in the heart of downtown with "For Rent" and "For Sale" signs hanging in the windows. This is what a recession sounds like: The voices of hundreds of parents calling a charity ...

ING DIRECT Launches Bold Media Campaign “We the Savers ... - Earthtimes
WILMINGTON, Del. - (Business Wire) ING DIRECT, the nation’s largest direct bank, announces a far-reaching media campaign urging Americans to save. The multi-faceted campaign allows participants to sign the online “Declaration of Financial ...

U.S. Consumers Spending Same or More Than Last Year on Holiday Gifts ... - Earthtimes
WILMINGTON, Del. - (Business Wire) Holiday shoppers are not planning to reduce their spending significantly, despite news of financial turbulence, according to a new survey released today by ING DIRECT, the nation’s largest direct bank. The survey ...

Career Moves - Raleigh News & Observer
Story Tools Donald R. "Don" Edwards has been named project manager at Southern Industrial Constructors/Southern Crane, industrial contractors in Raleigh. Jason Newton, a partner with Yates, McLamb and Weyher law firm in Raleigh, was elected treasurer ...

Kaufman to fill Biden's seat in Senate - The Washington Times
Edward E. "Ted" Kaufman , longtime adviser and chief of staff for Vice President-elect Joseph R. Biden Jr., will serve the first two years of Mr. Biden's Senate term as the Delaware Democrat prepares to move to the White House. Delaware Gov. Ruth Ann ...

Carlyle's Hawaiian Telcom Files for Bankruptcy - Washington Post
Carlyle Group , the District-based private-equity firm, suffered a new setback yesterday when one of its investments, a Hawaiian provider of local and long-distance telephone service, sought bankruptcy protection from creditors. Carlyle had put $425 ...

Bankruptcies up amid downturn - Gazette
In 2006, Caruso Homes was riding the national housing wave. The Crofton home builder racked up $161 million in revenue, ranking among the nation's 200 largest by Professional Builder Magazine. That same year, Caruso was named America's Best Builder ...

BCE Leveraged Buyout May Fall Apart Over Insolvency Concerns - Bloomberg
Nov. 26 (Bloomberg) -- BCE Inc. , the Canadian phone carrier going private in a leveraged buyout, signaled the C$52 billion ($42 billion) takeover may unravel because the debt load might force the company into insolvency. The stock fell as much as 40 ...

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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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