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News about Mortgages:
Former First Tennessee workers team up with Knoxville lender - Memphis Commercial AppealWith home sales and the mortgage business reaching 20-year lows, it would seem a strange time to jump into mortgage lending in Memphis. Not for Mortgage Investors Group , the 20-year-old Knoxville company that has never been in West Tennessee, or for ...
Hot Zips For Memphis Home Burglaries - Eyewitness NewsThe stats for Frayser and Parkway Village are about the same as last month. Two of the zips, 38115 and 38116, saw significant dips in home break-ins. Meanwhile, in Raleigh, residents there see trouble because of the mortgage crisis. James Flemings ...
Memphis Housing market works to first-time homebuyers' advantage - Memphis Commercial AppealDarrin Earl figures the lower prices and interest rates in today's real estate market make this a good moment for him to become a homebuyer. A single, 33-year-old FedEx employee, Earl has been looking for a home to purchase for three months. Ben Fant ...
Choose Another City: - Birmingham Business Journalbizjournals Albany Albuquerque Atlanta Austin Baltimore Birmingham Boston Buffalo Charlotte Cincinnati Columbus Dallas Dayton Denver Greensboro Honolulu Houston Jacksonville Kansas City Los Angeles Louisville Memphis Milwaukee Mpls./St. Paul ...
Fitch downgrades First Horizon's rating - Memphis Business JournalSarasota County bond rating bolstered by reserves Former Wachovia exec joins First Horizon Duke Health hopes to stanch share slide with $1.4B Fitch downgrades First Horizon's rating Fitch reaffirms AA+ rating for CPS Energy bonds Fitch Ratings has ...
Economic weakness in Eighth District grows - Memphis Business JournalFederal Reserve names Huang VP treasury relations For St. Louis banks, hurdles never end Region’s business conditions continue to ‘weaken’ Foreclosure moratoria come with cost Economic conditions in the Federal Reserve’s Eighth District have ...
Business events scheduled for the coming week - ForbesSATURDAY, Dec. 6 POZNAN, Poland - U.N. climate conference. Thru Dec. 12. SUNDAY, Dec. 7 STOCKHOLM, Sweden - Newser with Nobel laureates in physics, chemistry and economics. 08:00 GMT. MONDAY, Dec. 8 WASHINGTON - Weekly Treasury briefing, auction ...
Fannie, Freddie Mortgage-Bond Spreads Retrace Fed-Sparked Gains - BloombergDec. 3 (Bloomberg) -- Yields on Fannie Mae, Freddie Mac and Ginnie Mae mortgage bonds widened relative to U.S. Treasury notes, retracing gains from the past week as investors anticipated an increase in the amount of securities. The difference between ...
Correction: First Horizon National ratings story - Boston GlobeCHICAGO— In a Dec. 4 story about First Horizon National Corp. and lead bank First Tennessee Bank, The Associated Press reported erroneously the meaning of the individual rating assigned by Fitch Ratings. The new rating of "C" denotes an adequate ...
The Ascent of Money: A Financial History of the World - Monsters and Critics“In the course of this useful if somewhat lumpy volume, Mr. Ferguson looks at the roots of the current economic meltdown, examining how, in a globalized world that uses increasingly complex financial instruments, defaults on subprime mortgages in ...
Today's Mortgage Terms starting with M
Margin: The percentage difference between the index for a specific loan and the interest rate charged. This is a number already set by the lender.
Market Value: The price at which a given property or product is transacted between a willing, unhurried buyer and a seller who know all the pertinent facts about the property.
Mortgage Banker: A financial institution who directly funds home loans, sells them to investors, arranges monthly payments and handles escrow. Some mortgage bankers sell their loans on the secondary market.
Mortgage Broker: A broker arranges financing for borrowers with a variety of lenders. A mortgage broker does not make the loan, but receives payments for its services.
Mortgage Insurance: It is insurance to protect the lender in case you default on your loan. With conventional loans, mortgage insurance is generally not required if you make a down payment of at least 20% of the home's appraised value. It is also known as PMI (Private Mortgage Insurance).
Mortgage Loan: A loan for which a specific real estate property serves as collateral to provide for repayment in case of default.
Mortgage Refinance: A refinanced mortgage is one in which a borrower pays down an old loan with a new loan. People who refinance a mortgage tend do so to get a lower interest rate, lowering their payments or to take cash out of their home equity.
Mortgagee: The lender in a mortgage loan relationship. Property is used as collateral to make payment.
Mortgagor: The borrower in a mortgage loan relationship. Property is used as collateral to make payment.
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