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U.S. 30-year mortgage rates fall in latest week - ReutersWASHINGTON (Reuters) - U.S. 30-year mortgage rates fell slightly in the latest week, according to a survey released on Thursday by home funding company Freddie Mac (FRE.N: Quote , Profile , Research , Stock Buzz ). U.S. 30-year mortgage rates dipped ...
FDIC moves to help IndyMac borrowers - Miami HeraldWASHINGTON Troubled home borrowers with loans from IndyMac Federal Bank will be able to switch to fixed-rate mortgages under a new plan from federal regulators, who seized the bank last month after it became the largest regulated thrift to fail. Most ...
Fed's Role Has Changed in Last Year - AOL(Aug. 21) - The difference a year can make. In August 2007, as financial markets began to crumble under the weight of bad mortgage loans, Chairman Ben Bernanke told the Federal Reserve's annual gathering at Jackson Hole, Wyo., that it wasn't the ...
How Mortgage Giants Lead Market Into Crisis - Washington PostFannie Mae and Freddie Mac are giants of the mortgage finance industry. But to investors, they're rapidly shrinking. And as they struggle, they're taking the housing market with them, reinforcing a downward spiral in which their troubles translate ...
30-year mortgage rates dip this week to 6.47% - Seattle TimesWASHINGTON — Rates on 30-year mortgages fell slightly this week to the lowest level since mid-July. Freddie Mac, the mortgage company, reported today that 30-year, fixed-rate mortgages dipped to 6.47 percent this week, down from 6.52 percent, which ...
The Next Bailout: Detroit - Wall Street JournalFirst came Bear Stearns, then mortgage lenders and borrowers, followed by Fannie Mae and Freddie Mac: They've all looked to Uncle Sam for a bailout, and now the word around Washington is that Detroit will be next on the taxpayer supplicant list ...
FDIC to help IndyMac mortgage borrowers - MSN MoneyCentralWASHINGTON (Reuters) - Thousands of homeowners with distressed mortgage loans linked to failed lender IndyMac may soon be able to avoid foreclosure under a program announced on Wednesday by U.S. banking regulators. The Federal Deposit Insurance Corp ...
Washington offers no relief for savers - Boston GlobeWASHINGTON— Two giant mortgage companies get into hot water over risky investments. The government steps in to throw them a lifeline should they need it. Hundreds of thousands of Americans buy homes more expensive than they can afford. Congress ...
U.S. mortgage rates fall slightly in week - Political GatewayWASHINGTON, Aug. 21 (UPI) -- Interest rates for 30-year, fixed-rate U.S. mortgages declined slightly from the previous week, the Federal Home Loan Mortgage Corp. said Thursday. The 30-year, fixed-interest rate mortgage averaged dropped from 6.52 ...
Pearlstein: End the Fannie, Freddie Soap Opera - Washington PostMessage for Hank Paulson : It's time to get out the bazooka. That was the Treasury secretary's inelegant metaphor for the authority recently given him by Congress to pump government money into the ailing giants of housing finance, Fannie Mae and ...

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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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