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Pair of credit unions join as 'basic fit' - Memphis Commercial AppealHope Community Credit Union has taken over the financially troubled American Savings Credit Union in what the two institutions called a merger Wednesday. No money changed hands at the end of a five-month process directed by federal and state ...
Banks move ahead with expansions despite recession - HometownAnnapolis.comDespite a national recession, several banks are moving forward with branch expansions in Anne Arundel County even as they sell off shares to the federal government for fresh capital in return. Bank officials said they committed to several new county ...
Wells Fargo Completes Wachovia Purchase - Post ChronicleWells Fargo & Co said it has completed its roughly $12.7 billion purchase of Wachovia Corp, a big bet that it properly assessed the risks in Wachovia's huge book of mortgage and real estate loans. The merger closed on Wednesday and more than doubles ...
New estate agents who aren’t fazed by the housing slump - Belfast TelegraphTwo Belfast property experts have joined forces to form Northern Ireland’s first new estate agents in a year, it was revealed today. And despite the current economic gloom, another estate agent was also launched recently in Donegal to cover the ...
Wells Fargo & Co - BloombergJan. 1 (Bloomberg) -- Wells Fargo & Co. ’s $12.7 billion acquisition of Wachovia Corp. faces immediate stress as economists predict home foreclosures will keep rising and some forecast unemployment in 2009 to reach a 26-year high. Wells Fargo, the ...
Wachovia sale tested by economic crisis - Inside Bay AreaWells Fargo & Co.'s $12.7 billion acquisition of Wachovia Corp. faces immediate stress as economists predict home foreclosures will keep rising and some forecast unemployment in 2009 to reach a 26-year high. Wells Fargo, the biggest bank on the U.S ...
Economy in worse shape since Wells Fargo struck Wachovia deal - Seattle TimesWells Fargo's $12.7 billion acquisition of Wachovia faces immediate stress as economists predict home foreclosures will keep rising and some forecast unemployment in 2009 to reach a 26-year high. Wells Fargo, the biggest bank on the West Coast, said ...
Year-End Buyouts: Big Challenges for the Big Banks - Seekingalpha.comThree major U.S. banking deals were completed last week, enabling the buyers to finalize their deals before 2008 came to a close. The first two deals were completed Thursday, the last day of the year. Bank of America Corp. ( BAC ) completed its ...
California’s Great Olive Oil Flood - Santa Barbara IndependentLate each fall, tense times arrive in the olive orchard at Pasolivo near Paso Robles. The annual wine-dark flood has already drenched the rest of the Central Coast and state, where the vineyards are turning to gold, and now Pasolivo’s staff must ...
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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