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News about Mortgages:
Grais & Ellsworth LLP Files Class Action Against Countrywide on Behalf ... - Yahoo FinanceNEW YORK, Dec. 3 /PRNewswire/ -- Grais & Ellsworth LLP has filed a class action against Countrywide Financial Corporation on behalf of thousands of investors in 374 securitization trusts to which Countrywide sold subprime and Alt-A mortgage loans. As ...
Class Action Demands Countrywide Repay Hedge Funds for Losses - Law.comA New York litigation boutique filed a class action suit Monday against Countrywide Financial Corp. on behalf of investors in 374 securitization trusts that suffered losses due to Countrywide's $8.4 billion settlement with 15 states' attorneys ...
In hard economic times, a ripple effect takes place - Chicago Sun-TimesOnly five customers sat in Tom's Restaurant at 2701 E. 130th St. at lunchtime on a recent weekday. Tom's used to be packed with workers from the nearby Ford plant -- but more than 800 workers were cut in recent weeks, and times are hard. "I've never ...
East Allegheny residents taking neighborhood to new heights - Pittsburgh Post-GazetteErin Conley in front of the home she purchased on Suismon Street on Pittsburgh's North Side. The home was rehabilitated by Allie DePasquale of October Development. East Allegheny's wallflower days may be over. The North Side neighborhood has seen a ...
Countrywide Bondholders May Challenge Costs of Mortgage Accord - BloombergNov. 6 (Bloomberg) -- Countrywide Financial Corp. mortgage- bond holders may form a group to challenge Bank of America Corp.'s plan to rework home loans to settle fraud complaints, a lawyer said. Bank of America's Countrywide unit agreed with 14 ...
Aid coming for foreclosure-prone neighborhoods - St. Petersburg TimesTAMPA — The house on Emma Street, like so many others, is a snapshot of the nation's mortgage crisis. Once a promising investment, the place is buried in knee-deep piles of trash and occasionally home to vagrants. The city has condemned it. Gary ...
Congressional candidates debate in Vincennes - Washington Times-HeraldVINCENNES — In what could be classified as an undercard to the presidential debate, Eighth District congressional candidates incumbent Brad Ellsworth and Greg Goode dueled Tuesday in their only debate before Election Day. Before a sparse crowd at ...
Down the Road - Magic City Morning StarThanksgiving has remained my favorite holiday over the many years it has taken for me to become 29.5 on my birthday, which this year is the day following Thanksgiving. Thanksgiving this year offers Dolores and me two special reasons to be thankful ...
Investors Hit BofA Loan Modifications - Wall Street JournalBank of America Corp.'s decision to embark on an $8.4 billion home-loan-modification program to settle charges brought by state attorneys general against Countrywide Financial Corp. was hailed as a milestone when the deal was announced this fall. But ...
Accused foreclosure scam artist behind bars - KVBCIt's a housing scam so big investigators admit the cases they know about may be just the tip of the iceberg. A Las Vegas man is behind bars accused of preying on those who were about to lose their homes. He said he could save them from foreclosure ...
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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