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Obama: Takeover should put US taxpayers first - CNBCTERRE HAUTE, Indiana - Barack Obama laid out benchmarks Saturday for a government takeover of troubled mortgage giants Fannie Mae and Freddie Mac, but said he will withhold judgment until he sees the Bush administration plan. The Democratic ...
Obama To Stephanopoulos: Government Intervention 'Necessary' For ... - ABC News BlogsABC News' George Stephanopoulos Reports: Democratic presidential nominee Barack Obama said Saturday he is inclined to support a government plan to place mortgage giants Fannie Mae and Freddie Mac under federal control. "Intervention was necessary ...
Fannie, Freddie's boards meet Saturday to mull government plan - International Herald TribuneWASHINGTON : The boards of mortgage finance companies Fannie Mae and Freddie Mac were set to meet on Saturday to discuss a government plan to place the companies under federal control, sources said. The U.S. Treasury Department plan to put the two ...
Paulson to Take Over and Restructure Fannie, Freddie (Update3) - BloombergSept. 6 (Bloomberg) -- Treasury Secretary Henry Paulson will use his authority to rescue Fannie Mae and Freddie Mac , likely placing the beleaguered mortgage-finance companies under government control as early as this weekend. The Treasury plans to ...
Takeover May Help Homebuyers, Hit Fan-Fred Shareholders - Wall Street JournalWASHINGTON -- Homebuyers and holders of Fannie Mae and Freddie Mac debt are the likely beneficiaries of a U.S. Treasury plan to takeover the beleaguered mortgage giants, but it is less clear how shareholders will fare. A capital infusion by the ...
Fannie, Freddie boards meet to mull bailout details - Globe and MailWASHINGTON — The boards of mortgage finance companies Fannie Mae and Freddie Mac were set to meet Saturday to discuss a government plan to place the companies under federal control, sources said. The U.S. Treasury Department plan to put the two ...
Paulson Intends to Use New Power to Restructure Fannie, Freddie - BloombergSept. 6 (Bloomberg) -- Treasury Secretary Henry Paulson will use his authority to rescue Fannie Mae and Freddie Mac , likely placing the beleaguered mortgage-finance companies under government control as early as this weekend. ``Late yesterday I ...
Fannie Video Gallery - CNBCFannie and Freddie shares are soaring on new the Treasury is close to finalizing a backstop plan, with Bill Gross, PIMCO... Top executives and board members of Fannie Mae and Freddie Mac were meeting today with with their regulator in Washington to ...
Obama, McCain target working-class voters - MSNBCSept. 6: MSNBC's Pat Buchanan examines what is next for Gov. Sarah Palin and how she fits in with the GOP strategy. WASHINGTON - As Americans were rocked by more bad news about the economy, presidential rivals Barack Obama and John McCain entered the ...
Rep. Frank: gov't will stabilize Fannie, Freddie - NewsweekRecommended (6) Why You Should Care About Fannie and Freddie Fannie Mae, Freddie Mac and the Subprime Mess Samuelson: Wrong Lessons About Homeownership George Will on Politics and the Economy Business Roundtable: Taking Stock Seeing Shades of the ...

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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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