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Mortgage fraud conspirator gets more than a year in prison - Minneapolis Star TribuneA former appraiser whose misleading and inflated appraisals of homes were part of the Parish Marketing mortgage fraud scheme was sentenced Monday to more than a year in prison. Donald T. Yeager, 41, of Ardmore, Okla., was sentenced to 15 months by U ...
4 convicted in $15 million loan scheme in Houston - ForbesFour people have pleaded guilty to an elaborate mortgage fraud scheme that involved millions of dollars in illegally obtained loan proceeds, federal prosecutors said Tuesday. The loans totaling more than $15 million were for residential properties in ...
Futures Signal Losses for Wall Street - Street.ComUpdated from 7:58 a.m. EDT Premarket futures were pointing toward a lower open for U.S. stocks Thursday as a set of reduced analyst estimates for the financials and an uptick in crude oil prices sent investors scurrying for cover. Futures for the S&P ...
Stocks on Wall Street Head for Decline - Street.ComPremarket futures were pointing toward a lower open for U.S. stocks Thursday as a set of reduced analyst estimates for the financials and an uptick in crude oil prices sent investors scurrying for cover. Futures for the S&P 500 were down 8 points at ...
Mortgage down payment 'gifts' set to expire - Pioneer PressAmanda Swanson styles her daughter's hair at the family's rented duplex in Coon Rapids on Wednesday. Swanson and her husband are in the process of buying a home with a seller-funded gift down payment. (John Doman, Pioneer Press) The clock is ticking ...
Houston's median home price hits record high - Houston ChronicleThe median home price in the Houston area hit an all-time high in July, but the good news was tempered by sluggish sales, which fell for the 11th month in a row. Prices jumped 3.4 percent to a median of $161,370, as sales of single-family homes fell ...
Nine tied to finance fraud - Baltimore SunThe Maryland attorney general is accusing nine people of bilking distressed homeowners in a foreclosure rescue scheme and seeking to recover equity the state says was siphoned off. According to a complaint filed in Baltimore Circuit Court, the ...
UD Medal winner seeks sponsorship - Ambler GazetteA Habitat for Humanity home sponsorship is needed for the 2008 Upper Dublin Medal of Excellence citizen award winner Sherry Henderson Rivers. Henderson Rivers' home will be built in North Hills on a site on Linden Avenue that will hold seven Habitat ...
4 convicted in $15M Houston loan scheme - KHOUHOUSTON -- Four people have pleaded guilty to an elaborate mortgage fraud scheme that involved millions of dollars in illegally obtained loan proceeds, federal prosecutors said Tuesday. The loans totaling more than $15 million were for residential ...
Public Notices - Columbia StarC/A NO. 2008-CP-40-04949 Citifinancial, Inc., Plaintiff vs. Estelle Bradley Flowers Murray aka Estelle B. Murray aka Estelle Bradley Flowers, Defendants. TO THE DEFENDANT(S) Estelle Bradley Flowers Murray aka Estelle B. Murray aka Estelle Bradley ...

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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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