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News about Mortgages:
Fannie Mae, Freddie Mac wielded big clout in Washington - Christian Science MonitorReporter Gail Russell Chaddock talks about the enormous political clout that Fannie Mae and Freddie Mac wielded in Washington. Washington - Mortgage giants Fannie Mae and Freddie Mac didn't just dominate the nation's $12 trillion home loan market ...
Mortgage giants were blind to bubble - MSNBCWASHINGTON - Mortgage giants Fannie Mae and Freddie Mac — despite their robust cadre of economists and mortgage experts — failed to heed warnings that the most dramatic housing bubble in U.S. history would burst. The companies — particularly ...
Fannie, Freddie takeover drops mortgage rates - Baltimore SunWASHINGTON - Mortgage rates fell sharply yesterday as investors reacted to the government's takeover of Fannie Mae and Freddie Mac . The average interest rate for a 30-year fixed rate mortgage dropped 0.3 percent to 6.04 yesterday, according to HSH ...
WaMu deal may wait for details of mortgage bailout - Seattle TimesWashington Mutual reportedly went up for sale earlier this week. If regulators at the Federal Deposit Insurance Corp. are pushing it to sell, a deal could be announced as early as this weekend. Washington Mutual may have gained a reprieve from being ...
Mortgage crisis has Washington putting aside free-market ideology - International Herald TribuneDespite decades of free-market rhetoric from Republican and Democratic lawmakers, Washington has a long history of providing financial help to the private sector when the economic or political risk of a corporate collapse appeared too high. The ...
4 Fannie execs depart; organization restructured - FOX NewsWASHINGTON — Mortgage finance giant Fannie Mae, taken over by the government earlier this month, announced Friday the resignations of four senior executives and said it was restructuring its organization. The company, the biggest buyer and ...
US Government Takes on Big Role in Mortgage Market - ABC NewsWASHINGTON - SEPTEMBER 20: Daniel Mudd (L) president and CEO of Fannie Mae and Richard Syron (R)... WASHINGTON - SEPTEMBER 20: Daniel Mudd (L) president and CEO of Fannie Mae and Richard Syron (R) chairman and CEO of Freddie Mac listen to questions ...
New Freddie Mac CEO to be paid $900,000 - MSNBCWASHINGTON - Mortgage finance company Freddie Mac says its new chief executive is earning a base salary of $900,000 a year, a 25 percent pay cut from his predecessor who also received sizable bonuses and stock options. The company, seized by the ...
U.S. may take control of mortgage giants - International Herald TribuneWASHINGTON/NEW YORK : The U.S. government plans to put government sponsored mortgage finance companies Fannie Mae and Freddie Mac under federal control, the New York Times and Washington Post newspapers reported late Friday, in what could be the ...
Paulson announces more help for mortgage markets - Detroit NewsWASHINGTON -- Treasury Secretary Henry Paulson announced Friday that mortgage giants Fannie Mae and Freddie Mac will step up their purchases of mortgage-backed securities to help provide support to the crippled housing market. Paulson also said that ...

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Today's Mortgage Terms starting with I
Index: An index is usually a widely published market rate such as LIBOR, T-Bill or 11th District Cost of Funds (COFI). Lenders use these indices to set the interest rates charged on mortgage loans. For ARM, a predetermined margin is added to the index to calculate the interest rate adjustment.
Initial Rate: The rate charged for the first interval of an ARM loan.
Interest: Compensation in the form of money paid for the use of money.
Interest Rate Cap: Caps limit the range that the interest rate on an adjustable rate mortgage can change in an adjustment interval during the term of the loan.
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