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Swan defends move into mortgage market - News.com.au
RAISING funds for home lending through mortgage-backed securities is not a broken business model, Federal Treasurer Wayne Swan says. Mr Swan announced last Friday the use of $4 billion of taxpayers' money to invest in new residential mortgage-backed ...

Deed transfers from Oct. 6-Nov. 2 edition - Star-Banner
John Sanders to Jlotto Land Group LLC. Marion County: $80,000. J.H. Lybass Jr. Family LLC to T. Paul Bulmahn. Marion County: $800,000. Lifepointe Village Summerfield LLC to Lifepointe Village, Village View LLC. Marion County: $968,000. Ferguson ...

Ex-exec ponders mortgage calamity - Fort Wayne Journal Gazette
Profile Dick Waterfield Title: Former chairman of Waterfield Mortgage Co. Inc. Age: 63 Family: Married to Marni McKinney; father of Randy, who lives in New York; Richard, who lives in California; and Jill, who lives in Zurich, Switzerland ...

RBA buys record $840m in mortgage-backed bonds - The Age
Australia's central bank bought a record $840 million of mortgage-backed bonds, joining the government's bid to bolster confidence in the market. The Reserve Bank of Australia acquired the home-loan bonds in nine and 13-day repurchase agreements ...

Wayne Swan should insist banks pass on full rate cut: Turnbull - The Australian
MALCOLM Turnbull has challenged Wayne Swan over interest rates, accusing the Treasurer of having "run up the white flag" on whether banks should pass on any official rate cut in full. Mr Turnbull said today that if the Reserve Bank cuts official ...

Australian share market soars on Wall Street optimism - News.com.au
Investors poured back into the market, buoyed by belief that the US Congress will pass the $US700 billion Wall Street bailout and that interest rates will fall by up to 0.5 percentage points next week. The All Ordinaries surge was further boosted by ...

Frontenac Mortgage Investment Corporation Approved on FundSERV - CNW Group
SHARBOT LAKE, ON, Oct. 1 /CNW Telbec/ - Frontenac Mortgage Investment Corporation (FMIC) announces it is available for purchase through FundSERV Inc. Investment advisors and brokers can buy and sell FMIC shares on behalf of their clients using the ...

Govt must do more for struggling homeowners: ACTU - Australian Broadcasting Corp.
The ACTU says the Government should be doing more to help struggling homeowners as part of its response to the recent financial uncertainty. Treasurer Wayne Swan last week announced a $4 billion investment in residential mortgage-backed securities to ...

Swan accused of cosying up to banks - Big Pond News
Federal Treasurer Wayne Swan is under increasing pressure for refusing to demand the banks pass on any interest rate cut in full to consumers. Mr Swan has again urged the banks to pass on the "maximum possible" amount if the Reserve Bank cuts rates ...

Wall St softens PM on rates - Age
A FIRSTHAND view of the financial crisis wreaking havoc on Wall Street was enough to shift Prime Minister Kevin Rudd's thinking on banks and interest rates. While the Reserve Bank of Australia today was poised to cut interest rates by as much as 0.5 ...

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Today's Mortgage Terms starting with P

  • Payment Cap: A limit on the size of the monthly payment of an adjustable-rate mortgage or other variable rate loan.
  • Point: A point is equivalent to 1 percent of a mortgage loan. Lenders might charge "origination points" to cover expenses of processing a loan. Some borrowers might pay "discount points" to reduce the loan's interest rate.
  • Pre-Approval: The process of calculating how much money a potential homebuyer could borrow.
  • Prepayment Penalty: A lender's charge to the borrower for paying down the loan before the end of its term.
  • Pre-Qualification: A non-binding process of calculating how much money a potential homebuyer can borrow before applying for a loan. Information submitted during pre-qualification is subject to verification at application.
  • Principal: It is the amount of money borrowed or owed, excluding interest.
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