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Commentary — By J. Bradford DeLong : “The road to depression” - Business World
Keep as much economic activity as possible under private-sector control, in order to ensure that what is produced is what consumers really want. Prevent the princes of Wall Street who led us into the crisis from profiting from the systemic risk that ...

Why Didn't We Stop the Market's Chain of Events? - Seekingalpha.com
Calculated Risk: Hoocoodanode? : Earlier today, I saw Greg "Bush economist" Mankiw was a little touchy about a Krugman blog comment. My reaction was that Mankiw has some explaining to do. A key embarrassment for the economics profession in general ...

Site Presented By - Salon
On Tuesday morning, Mark Thoma hosted a rant by fellow economist Tim Duy taking apart a silly column in the Wall Street Journal by Peggy Noonan. For the full point-by-point analysis, I refer you to Duy. But after reading the following two paragraphs ...

The road to depression - Daily Times
BERKELEY: For 15 months, the United States Federal Reserve, assisted by the financial regulators of the US Treasury, have been trying to make the macroeconomic consequences of the American mortgage-backed securities financial crisis as small as ...

Is the Fed Taking a Step Toward Explicit Quantitative Easing? - Seekingalpha.com
Dull times these are not – Monday was another whirlwind that culminated with another steep drop in equity markets, despite clear indications that Bernanke & Co. are ready for a broader campaign of quantitative easing. The day brought more recession ...

Trickle-Down Optimism - New York Times Blogs
The “choice” in question is Barack Obama’s tapping of the University of California, Berkeley professor Christina Romer to be head of the Council of Economic Advisors . So who’s the quote from? Is it (A) Greg Mankiw, friend of free markets who ...

'The Return of Depression Economics and the Crisis of 2008,' by Paul ... - Los Angeles Times
A decade ago, Paul Krugman wrote a little book warning us that economists' triumphalism was misplaced -- that advances in economic knowledge and economic policy had not, after all, banished the prospect of big depressions from the global economy ...

Economists Infiltrate the White House; Now What? - New York Times Blogs
Last week, President-elect Obama dominated the news — and perhaps moved the markets — by spending the three days before Thanksgiving introducing one economist after another to the American public. There were Larry Summers , Peter Orszag ...

November 2008 - Weblogs.baltimoresun.com
Reader Dave sends this nice letter to Obama's change.gov Web site, a propos of Saturday's column on layoffs. Dear President-elect Obama, Normally, I do not comment or send letters to elected officials, but since we are all looking for positive change ...

McCain's plan to overpay mortgage lenders - Salon
The McCain mortgage bailout mystery thickens. Even though a good case can be made that the plan is a repackaging of earlier Democratic efforts to get aid to homeowners, the Obama campaign is opposing it: John McCain wants the government to massively ...

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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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