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Mortgage Rates for Best Borrowers Rise as Bonds Slump (Update1) - Bloomberg
Aug. 21 (Bloomberg) -- A decline in mortgage bond prices is raising interest rates on U.S. home loans, even for borrowers least prone to default. Rates on average 30-year fixed mortgages rose to 6.37 percent this week, about the highest in six years ...

Mortgage Rates for Best Borrowers Rise as Home-Loan Bonds Slump - Bloomberg
Aug. 21 (Bloomberg) -- A decline in mortgage bond prices is raising interest rates on U.S. home loans, even for borrowers least prone to default. Rates on average 30-year fixed mortgages rose to 6.37 percent this week, about the highest in six years ...

Franklin Bank Corp. Receives Additional Non-Compliance Notifications ... - MSN MoneyCentral
HOUSTON, Aug. 19, 2008 (GLOBE NEWSWIRE) -- On August 13, 2008, Franklin Bank Corp. (Nasdaq:FBTX) (AMEX:FBK-P.LF) ("Franklin") received a letter (the "Nasdaq Letter") from the staff of The NASDAQ Stock Market ("Nasdaq") regarding Franklin's failure to ...

Huntington: No fallout from latest Franklin losses - Columbus Business Journal
With a big second-quarter loss coming for Franklin Credit Management Corp. , Huntington Bancshares Inc. is assuring investors a restructured agreement with the troubled mortgage lender will head off additional credit problems for the bank. Huntington ...

Fannie, Freddie woes raising mortgage rates - CNBC
Jeff Jaye, a mortgage broker in Northern California, used to rely on homeowners looking to refinance their loans for more than two-thirds of his business. Today, he rarely bothers with those applications because he knows most homeowners can't qualify ...

Wayne prosecutor to lose her house - Detroit News
DETROIT -- Wayne County Prosecutor Kym Worthy has joined the flood of Michigan residents whose homes are in foreclosure. In a statement Wednesday, Worthy said, "after attempts to work something out with (mortgage company) Countrywide, I was unable to ...

Should Fannie and Freddie Management Be Fired? - Wall Street Journal
The businesses of Fannie Mae and Freddie Mac are casualties of the credit crunch. Should their managements be as well? It is something the Treasury Department is considering. “Among the issues being debated is whether to force out management as ...

Day Two: Could you live on $275 a week? That's Florida's maximum ... - Fort Lauderdale Sun-Sentinel
Florida ranks as one of the lowest-paying states in the nation in what it pays unemployed workers. Whether you lose a $30,000-a-year job or one that pays six figures, your maximum unemployment compensation breaks out to $6.88 an hour — less than ...

Investors dominate multi-family market - Dorchester Reporter
On a single dead-end street on Meetinghouse Hill, two extremes of Dorchester's troubled multi-family housing market can be found side by side. The difference between these two three-deckers on Navillus Terrace - creatively named for a man named ...

Fannie, Freddie fallout hitting home - Seattle Times
Jeff Jaye, a Northern California mortgage broker, used to rely on homeowners looking to refinance their loans for more than two-thirds of his business. Today, he rarely bothers with those applications because he knows most homeowners can't qualify ...

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Today's Mortgage Terms starting with D

  • Default: Failure to fulfill legal obligations of a contract, including failure to make payments on a loan.
  • Discounted Loan: When the note rate on a loan is lower than the market rate, it is a discounted loan.
  • Discount Point: A point paid to the lender to permanently lower or acquire down an interest rate. Money must be paid up front to lower the rate.
  • Down Payment: The amount of cash you must pay down initially for the purchase of your home. For conventional loans, you should aim for a down payment that's at least 20% of your home's value. The reason is lenders generally do not require private mortgage insurance with a down payment of at least 20% of your home's purchase price.
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