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News about Mortgages:
Kahley to lead First Southern mortgage division - Statesboro HeraldFirst Southern National Bank recently announced the promotion of Kelly Kahley to head of the Mortgage Division. She will lead the bank's business development efforts as well. Kahley's new duties include coordinating all efforts with First Southern's ...
Bank of England cuts interest rate by 1.5 points to 54-year low - Times OnlineThe Bank of England today took decisive action to shore up the economy and stave off a deep recession by ordering an aggressive cut in interest rates by 1.5 percentage points to 3 per cent, taking the base rate to its lowest level in more than half a ...
FORCE to hit the roof for food drive - Effingham HeraldOn Nov. 13, beginning at 1:30 p.m., the FORCE steering committee (composed of Lisa Bush, Janice Mydell, Glenda King, Elaine Spencer and Bonnie Dixon) will “go to new heights” to help raise food for the pantries by climbing onto the roof top of a ...
Mandelson warns banks to pass on rate cuts - Times OnlineLord Mandelson upped the stakes in a row with UK banks this morning by warning that they face a customer backlash if they do not pass on interest rate cuts to customers. Britain's Business Secretary fired the latest salvo after an awkward 24 hours in ...
Only drastic action now will save us, says Gordon Brown - Times OnlineBritain would face an even more severe recession without the multi-billion-pound tax cut and spending package that will be unveiled on Monday, Gordon Brown said yesterday. In a dramatic attempt to raise the political stakes before the most important ...
Daily Report - Baton Rouge Business ReportJanie Oldfield will leave her position as executive director of the Manship Theatre in the Shaw Center for the Arts to lead the Rosebud Theater in Effingham, Ill. Oldfield began her three-year tenure at the Manship in August 2005, a week before ...
Local business leaders evaluate economic crisis - Journal Gazette and Times CourierCHARLESTON — The U.S. economy has survived oil market shocks in the 1970s, Japanese economic dominance in the 1980s, job losses to Mexico in the 1990s, dot-com busts in the early 2000s, and much more. Jack Schultz, chief executive officer of the ...
Help, hope exists for those with cancer - Southern IllinoisanThere are 10.8 million Americans, who are cancer survivors today. Thanks to advances in cancer research, diagnosis and treatment, about one million survivors join their ranks each year. Surviving cancer takes a toll. There are medical, financial ...
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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