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The Bailout So Far - Wall Street JournalHere's a fact to mull over: Washington a few months ago might have bought the entire stock of subprime mortgages for about half the money committed by the Fed and Treasury last week to prop up Citigroup and spur consumer and mortgage lending. Corbis ...
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In hard economic times, a ripple effect takes place - Batavia SunOnly five customers sat in Tom's Restaurant at 2701 E. 130th St. at lunchtime on a recent weekday. Tom's used to be packed with workers from the nearby Ford plant -- but more than 800 workers were cut in recent weeks, and times are hard. "I've never ...
China Dabbles In Swiss Banking - ForbesA generation ago, you wouldn't have dreamt that a Chinese bank would one day help the world's richest people invest their money, and in Switzerland of all places. But China has come a long way from the days of Communism and little red books, to the ...
Tuesday Outlook: From Black Friday to Monday - Seekingalpha.comSo many images and thoughts, so little time. But, let’s just go with the image above since it’s short, snappy and makes the point: Black Friday is really dumb. That leads nicely to a Black Monday of sorts. The immediate chart below is the NASDAQ ...
Scenarios: Major Issues Facing U.S. Attorney General - Post ChroniclePresident-elect Barack Obama on Monday named former deputy attorney general Eric Holder as his choice to be Attorney General, the top U.S. law enforcement official. Here are some of the main challenges Holder, who served in the administration of ...
Outlook mixed for $22 billion finance company sector - National Business ReviewFinance company collapses in the last year have hit the property development industry, but it is vehicle dealerships that will suffer in the future with the withdrawal of their financiers, a report said today. At least 10 finance companies have ...
Major Issues Facing U.S. Attorney General - The Epoch TimesAttorney general-select Eric Holder (C) speaks as President-elect Barack Obama (L) and Senator Hillary Clinton (R) listen at a press conference at the Hilton Hotel December 01, 2008 in Chicago, Illinois. (Scott Olson/Getty Images) U.S. President ...
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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