Forsyth Mortgage Rates and Information Online from competing Lenders

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Reserve Bank slashes interest rates by 1 per cent - News.com.au
THE Reserve Bank of Australia has slashed the official cash rate by 100 basis points to 4.25 per cent following today's monthly board meeting. The fourth rate cut in as many months means that homeowners will save around $193 a month in repayments on ...

Piedmont Community Bank Group, Inc. Announces Third Quarter Earnings - PR Inside
Piedmont Community Bank Group, Inc. (OTC Bulletin Board: PCBN) today announced results for the third quarter of 2008 which included a 90% decrease in net income as compared to the same period of 2007 and a 33% decrease in net interest income as ...

Last-ditch bid to halt HBOS-Lloyds merger - This is Money
The merger of HBOS and Lloyds TSB was today described as a 'shotgun marriage' by one of the men behind a last-ditch bid to halt the move. The Merger Action Group (MAG) is seeking a legal ruling that Business Secretary Lord Mandelson's decision to ...

HBOS merger a "shotgun marriage" - Herald
A group of businessmen, bank customers and shareholders have come together to try to challenge the deal. The Merger Action Group (MAG) is seeking a legal ruling that Business Secretary Lord Mandelson's decision to allow the merger was unlawful. Group ...

Mandelson acted 'unlawfully' by allowing HBOs takeover - Times Online
A group of Scottish businessmen are mounting a legal challenge against the Government's controversial decision to allow HBOS to be taken over by Lloyds TSB without referring it to the Competition Commission. The Merger Action Group, which also ...

Dominion Finance’s poor lending practice exposed - National Business Review
Dominion Finance receiver Deloitte has painted a terrible picture for the 6000 anguished debenture holders now facing a 90% loss on the $224 million they invested. Deloitte says many of Dominion’s loans were second or lower-ranking mortgages that ...

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Today's Mortgage Terms starting with L

  • Lender: The bank, mortgage company or mortgage broker providing the loan.
  • Loan Application: A statement of personal and financial information needed to apply for a loan.
  • Loan Application Fee: A fee applied by a lender to cover the initial costs of putting through a loan application. The fee could include the cost of getting a property appraisal, a credit report and a lock-in fee and other closing costs incurred to complete the transaction.
  • Loan Origination Fee: Fee charged by a lender for the administrative costs of processing a loan.
  • Loan to Value Ratio (LTV): The balance of the mortgage outstanding as a percentage of the home's price.
  • Lock or Lock In: A lender's guarantee of an interest rate for a specific period of time. The time period is usually between the loan application approval and loan closing. The borrower wants the lock to stay in effect until closing.
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