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News about Mortgages:
Your Money: Boardwalk Mortgage Group - KATVThe ripple effects of the mortgage industry meltdown has taken down Bear Stearns, Lehman Brothers, Fannie Mae, Freddie Mac - who knows who is next? It took many years and lots of deals to get to this point. That fact is being played out today in a ...
On the job - Northern Colorado Business ReportDestiny Lending in Loveland has hired Mikell Benton and Sherri Knott as loan officers, Diane McCaw as an underwriter and Jake Fajardo as a reverse mortgage specialist. Michael Rusnak has joined the Orthopaedic Center of the Rockies as a trauma ...
Lemons, But No Lehman Aid Who gets a government bailout? - SlateWall Street is consumed with the subject of bailouts. As analysts chewed over the implications of the government's decision to assume the debt of ailing mortgage giants Fannie Mae and Freddie Mac, traders (and their real-estate brokers) wondered ...
Ex-Credit Suisse brokers accused of subprime fraud - Times OnlineTwo former Credit Suisse brokers each face a $5 million fine and up to 20 years in jail after being charged with fraudulently selling complex US securities to clients in order to boost their commissions. Julian Tzolov, 35, and Eric Butler, 36, were ...
Letter: Obama, Democrats share in blame for fiscal meltdown - Salem NewsIn his Friday column, Nelson Benton wrote that "Democrats will be seeking to take advantage of Republican presidential candidate John McCain's deregulatory fervor in the weeks ahead." No doubt the Democrats will try to blame McCain for this financial ...
Top 20 Beer Drinking Countries - CNBCLehman Brothers' bankruptcy protection filing is the largest in history, dwarfing all others. Take a look at the ten biggest corporate filings in US bankruptcy court. Two former Credit Suisse brokers were charged on Wednesday with fraud and ...
Takeovers of AIG, Fannie and Freddie raise business and political ... - Los Angeles TimesBy agreeing to bail out insurance giant American International Group Inc. and mortgage lenders Fannie Mae and Freddie Mac, the federal government has put itself in the unprecedented position of running huge private companies. In the case of American ...
Prosecutors Are Expected to Spare Wall St. Firms - Washington PostJustice Department officials yesterday vowed to unravel the complex financial deals that helped prompt a market crisis in an effort that will generally seek criminal charges against individual brokers and bankers, rather than companies themselves ...
N. Va. Home Sales Down 39% in July; Virginia in Top 5 of U.S. Sales ... - Falls Church News-PressN. Va. Home Sales Down 39% in July; Virginia in Top 5 of U.S. Sales Decline Experts Caution: Pull Back to Trip Global Downturn By Nicholas F. Benton Falls Church should not take its declining residential home value situation personally. The dramatic ...
What, No Lehman Aid? - NewsweekWall Street is consumed with the subject of bailouts. As analysts chewed over the implications of the government's decision to assume the debt of ailing mortgage giants Fannie Mae and Freddie Mac , traders (and their real-estate brokers) wondered ...

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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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