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PHH deal done in by tight credit - Baltimore Sun
The collapse of PHH Corp.'s deal to sell itself is a lesson for these credit-crunched times: If you're in the mortgage business, don't count on anyone getting the money to buy you - no matter how decent your prospects look. PHH agreed in March to ...

Lower Mortgage Rates May Be One Silver Lining in Market Turmoil - Bloomberg
Oct. 8 (Bloomberg) -- There are few silver linings for investors who have seen the Standard & Poor's 500 Index drop more than 31 percent this year. Lower mortgage rates may be one of them. A nationwide survey of consumer credit rates showed 30-year ...

Lower Mortgage Rates May Be Silver Lining in Turmoil (Update1) - Bloomberg
Oct. 8 (Bloomberg) -- There are few silver linings for consumers who have seen the Standard & Poor's 500 Index drop more than 31 percent this year. Lower mortgage rates may be one of them. A nationwide survey of consumer credit rates showed 30-year ...

Freeport family battered by struggling economy - Newsday
It hasn't been an easy economic road for Joan Fennell. Once a hotel chef, Fennell, 58, and her husband Joseph, 63, used to have plenty of savings and a comfortable income. When she became disabled, Fennell switched jobs, working as a conference ...

BATTLING FORECLOSURES: Cities to receive grant - News-Herald
Two Downriver cities are among a handful throughout the state that will share a $263 million gift handed out last week by the U.S. Department of Housing and Urban Development. Communities most impacted by the increasing number of home foreclosures ...

A Look At Wall Street's Shadow Market - CBS News
(CBS) On Friday Congress finally passed - and President Bush signed into law - a financial rescue package in which the taxpayers will buy up Wall Street's bad investments. The numbers are staggering, but they don't begin to explain the greed and ...

Ten tips for distressed landlords - Times Online
LANDLORDS coming to the end of cheap two-year fixes face payment shocks of almost £300 a month on a typical £150,000 mortgage, as house prices fall and lenders pull their competitive deals. The number of buy-to-let mortgages shrunk by almost a ...

Real Estate notes - Marion Chronicle-Tribune
The following is a list of real estate transfers collected from the Grant County Courthouse. Purchase prices are not available in Indiana and, therefore, are not listed with the transaction. Sept. 22 through 29 Billie J. Freel and Nancy R. Freel to ...

Henry Paulson should make taxpayers shareholders in the bank-rescue ... - Seattle Times
Treasury Secretary Henry Paulson has been a busy man. Is Henry Paulson a crony communist or a businessman? The answer could be the difference between economic disaster and recovery. Understanding Paulson's role in stopping — or fueling — the ...

How and Why the Federal Government Created the Mortgage Meltdown - ChristianNewsWire
OAKLAND, Calif., Oct. 7 / Christian Newswire / -- We are experiencing one of the worst financial upheavals of the post-WWII era, driven primarily by a vast increase in the number of mortgage defaults. But why did the mortgage market meltdown so badly ...

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Today's Mortgage Terms starting with L

  • Lender: The bank, mortgage company or mortgage broker providing the loan.
  • Loan Application: A statement of personal and financial information needed to apply for a loan.
  • Loan Application Fee: A fee applied by a lender to cover the initial costs of putting through a loan application. The fee could include the cost of getting a property appraisal, a credit report and a lock-in fee and other closing costs incurred to complete the transaction.
  • Loan Origination Fee: Fee charged by a lender for the administrative costs of processing a loan.
  • Loan to Value Ratio (LTV): The balance of the mortgage outstanding as a percentage of the home's price.
  • Lock or Lock In: A lender's guarantee of an interest rate for a specific period of time. The time period is usually between the loan application approval and loan closing. The borrower wants the lock to stay in effect until closing.
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