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News about Mortgages:
U.S. Bank takes over Downey Savings, PFF Bank & Trust - San Jose Business JournalU.S. Bancorp took over Downey Savings and Loan Association F.A. and PFF Bank & Trust late on Friday, ending several weeks of speculation about the financially-strapped institutions based in Southern California. The Federal Deposit Insurance Corp ...
Regulators shut down Downey Savings and Loan - Mojave Daily NewsWASHINGTON - Federal regulators on Friday shut down two big thrifts based in Southern California, saying they fell victim to the acute distress in the housing market in that state. The failures of Downey Savings and Loan Association, based in Newport ...
Two big California thrifts close - The Washington TimesFederal regulators shut down two big thrifts based in Southern California on Friday night, saying they fell victim to the acute distress in the housing market. The failures of Downey Savings and Loan Association, based in Newport Beach, and PFF Bank ...
Downey Savings, PFF Bank seized by federal regulators - Los Angeles TimesGovernment officials say Downey Savings & Loan will continue operating as usual under the ownership of Minneapolis-based U.S. Bank. Shown is a branch in Sherman Oaks. The Southern California thrifts are the latest to fail in the mortgage meltdown. U ...
Regulators shut 3 more banks - Columbus DispatchWASHINGTON -- Federal regulators shut down two big thrifts based in southern California yesterday, saying they had fallen victim to the acute distress in the housing market in that state. The failures of Downey Savings and Loan Association, based in ...
Federal regulators shut 2 California thrifts - AZCentral.comWASHINGTON - Federal regulators on Friday shut down two big thrifts based in Southern California, saying they fell victim to the acute distress in the housing market in that state. The failures of Downey Savings and Loan Association, based in Newport ...
Feds close 2 big thrifts in Southern California - San Francisco GateSaturday, November 22, 2008 The failures of Downey Savings and Loan Association, based in Newport Beach (Orange County), and PFF Bank & Trust of Pomona (Los Angeles County) brought the number of U.S. bank failures this year to 22. The Federal Deposit ...
U.S. banks forced to cash out - Calgary SunWASHINGTON -- Federal regulators have shut down two big thrifts based in Southern California, saying they fell victim to the acute distress in the housing market in that state. The failures of Downey Savings and Loan Association, based in Newport ...
US regulators shut 2 California banks - PR InsideWASHINGTON (AP) - U.S. regulators have shut down two banks based in Southern California, saying they fell victim to the acute distress in the housing market in that state. The failures of Downey Savings and Loan Association, based in Newport Beach ...
UPI NewsTrack Business - United Press InternationalLOS ANGELES, Nov. 22 (UPI) -- The U.S. Office of Thrift Supervision shut down two California banks late Friday, transferring operations to the giant U.S. Bank, based in Minneapolis. Downey Savings & Loan, headquartered in Newport Beach, and PFF Bank ...
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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