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The right blames the credit crisis on poor minority homeowners. This ... - Slate
We've now entered a new stage of the financial crisis: the ritual assigning of blame. It began in earnest with Monday's congressional roasting of Lehman Bros. CEO Richard Fuld and continued on Tuesday with Capitol Hill solons delving into the failure ...

Dave Barry's History of the Millennium (So Far) - Popmatters.com
With his penchant for blatant embellishment on the media record (when it serves a higher comedic purpose), Dave Barry’s account of the beginning of the 21st century demonstrates a skill for spin to be envied by every wannabe White House press ...

Unregulated swaps hastened Wall Street collapse - Salon
Oct 7th, 2008 | WASHINGTON -- It can be a fine line between investing and gambling. But in Las Vegas, you know the odds. On Wall Street, that's not always the case. Especially when it comes to the $62 trillion market in arcane financial contracts ...

MortgageBrokers.com Announces Additions to Management and Network ... - Earthtimes
Author : MortgageBrokers.com Inc. SAN FRANCISCO , Oct. 7 /PRNewswire-FirstCall/ - MortgageBrokers.com (OTCBB: MBKR), a fast growing North American mortgage broker brand and mortgage consolidation company, announced Monday, September 29 , that it has ...

Crisis hits mortgage rates - Ottawa Sun
TORONTO — One of Canada’s biggest mortgage lenders, TD Canada Trust, is increasing the interest rate charged for its home equity line of credit and variable-interest mortgages. The bank has been charging its prime rate for its Home Equity Lines ...

Subprime Suspects - Newsweek
We've now entered a new stage of the financial crisis: the ritual assigning of blame. It began in earnest with Monday's Congressional roasting of Lehman Brothers CEO Richard Fuld, and continued on Tuesday with Capitol Hill solons delving into the ...

Herb Sandler takes on SNL after snark attack - San Francisco Gate
Shooting back at SNL: Herb Sandle r's been "listening to this crap for two years," and he's not going to take it anymore. Especially after "Saturday Night Live" labeled him and his wife, Marion , former owners of Oakland's Golden West Financial (nee ...

Liberal Scholars Hail Conservatives ‘Abandonment’ of Free Market - CNS News
(CNSNews.com) - At a discussion at the liberal New America Foundation (NAF) on Monday, a group of scholars pointed to Congress’ passing of the $700 billion bailout – legislation that was supported by many Republicans and signed into law by ...

Wall St. trumps baseball as crooks - San Francisco Gate
Tuesday, October 7, 2008 For a brief time Monday, the news channels became ESPN Classic, helping audiences relive landmark moments at one of this country's great sports venues. No, this wasn't boxing at Madison Square Garden, football in Lambeau ...

Lenders One Successfully Navigates Market, Celebrates Eight Years - PR Inside
- For Lenders One Media Contacts Charlyne H. McWilliams, 301-933-5567 or Megan Ard, 678-781-7223 Lenders One Mortgage Cooperative, a national alliance of mortgage bankers, is celebrating its eighth year of service in the mortgage industry. The ...

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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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