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U.S. To Seize Fannie Mae, Freddie Mac - CBS News
(AP) The government is expected to take over Fannie Mae and Freddie Mac as soon as this weekend in a monumental move designed to protect the mortgage market from the failure of the two companies, which together hold or guarantee half of the nation's ...

Government may soon back troubled mortgage giants - BusinessWeek
The government is expected to take over Fannie Mae and Freddie Mac as soon as this weekend in a monumental move designed to protect the mortgage market from the failure of the two companies, which together hold or guarantee half of the nation's ...

U.S. Nears Rescue Plan For Fannie And Freddie - Washington Post
Treasury Secretary Henry Paulson and other officials met with Daniel Mudd of Fannie Mae and Richard Syron of Freddie Mac. The plan would strip them of their jobs. (Carol T. Powers - Bloomberg News) Treasury Secretary Henry Paulson and other officials ...

Lehman May Shift $32 Billion of Mortgage Assets to `Bad Bank' - Bloomberg
Sept. 4 (Bloomberg) -- Lehman Brothers Holdings Inc. may shift about $32 billion of commercial mortgages and real estate to a new company that will be spun off in a move similar to the good-bank-bad-bank model used in the 1980s banking crisis, two ...

Mortgage giants face US takeover - Boston Globe
WASHINGTON - Senior officials from the Bush administration and the Federal Reserve yesterday informed top executives of Fannie Mae and Freddie Mac , the mortgage finance giants, that the government was preparing to seize the two companies and place ...

Paulson Plans to Take Control of Fannie, Freddie (Update1) - Bloomberg
Sept. 6 (Bloomberg) -- Treasury Secretary Henry Paulson is preparing to announce plans to bring Fannie Mae and Freddie Mac under government control, seeking to halt the crisis of confidence in the companies that make up almost half the U.S. mortgage ...

Feds create a rescue plan for shaky lenders Fannie, Freddie - AZCentral.com
WASHINGTON - The government has formulated a plan to put troubled mortgage giants Fannie Mae and Freddie Mac under federal control, prop them up financially and dismiss their top executives, federal officials told the two companies Friday, according ...

Lehman Video Gallery - CNBC
Assessing whether Apple's new product will help the tech sector, with Ben Reitzes, Lehman Apple analyst and the Fast Mon... Lessons From Bear Stearns While Lehman Brothers is still searching for a deal partner to help strengthen its capital position ...

Massive mortgage bailout in works - Buffalo News
WASHINGTON — The government has formulated a plan to put troubled mortgage giants Fannie Mae and Freddie Mac under federal control, prop them up financially and dismiss their top executives, federal officials told the two companies Friday ...

U.S. Rescue Seen at Hand for 2 Mortgage Giants - Star News Online
WASHINGTON — Senior officials from the Bush administration and the Federal Reserve on Friday called in top executives of Fannie Mae and Freddie Mac, the mortgage finance giants, and told them that the government was preparing to place the two ...

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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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