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Obama pledges to help states weather recession - Washington Post
CHICAGO (Reuters) - President-elect Barack Obama on Tuesday pledged to help state governors cope with a deepening recession and asked them to help craft a massive stimulus package to create jobs and tackle the crumbling economy. As governors ...

Trusted Industry Names Form Due Diligence Alliance - PR Inside
www.halluc.com - Two seasoned due diligence executives said Tuesday that they have created a new due diligence firm, Hall Underwriting and Consulting, LLC (HUC) with the intent to revolutionize the process in which mortgages are bought and sold ...

Easton man admits role in mortgage fraud scheme - Amity Observer
Fred Stevens, of Sherwood Road, pleaded guilty to one count of bank fraud stemming from his participation in a scheme to defraud IndyMac Bank and other federally insured financial institutions, according to Acting United States Attorney for the ...

WESTPORT: Mortgage Broker Pleads Guilty - Hartford Courant
A mortgage broker from Westport has pleaded guilty to a charge of bank fraud stemming from his participation in a scheme to defraud IndyMac Bank, a federally insured financial institution based in California , the U.S. attorney's office for ...

From Bust to Broom: Mortgage crisis a boon for foreclosure cleanup ... - Chicago Tribune
FORT EDWARD, N.Y. (AP) _ Several men wordlessly carry out furniture, broken computers and boxes of garbage from a large blue house on a quiet upstate street on a brisk autumn morning. Rusting bikes and an old grill lay discarded in the overgrown ...

FEMA to unveil new flood-plain maps of Kalamazoo County - Kalamazoo Gazette
KALAMAZOO TOWNSHIP -- Representatives from the Federal Emergency Management Agency and the Michigan Department of Environmental Quality will host an open house Monday to present preliminary flood-plain maps of Kalamazoo County and provide current ...

Legion Post faces foreclosure - Hudson Hub-Times
Hudson -- A Florida company filed a foreclosure complaint in Summit County Common Pleas Court Nov. 21 against Lee Bishop American Legion Post 464, alleging the group is behind $587,356 in mortgage payments, including principal and late fees. Carrie ...

Shelter first in state to run on renewable energy - Maine Sunday Telegram
Vinton Hall’s rooftop solar array is expected to generate half of the eight-unit building’s power needs. Formerly homeless residents have begun moving into the first shelter facility in Maine to get most of its heat and half its electricity from ...

EU mergers and takeovers (Dec 2) - FXStreet.com
-- French utility group EDF SA, through special purpose vehicle Lake Acquisitions, to buy UK-based utility British Energy (notified Nov. 11/deadline Dec. 8/extended Dec. 2/new deadline Dec. 22) -- Israeli drugmaker Teva Pharmaceutical Industries Ltd ...

Downturn may prompt downsize - Australian Broadcasting Corp.
ELEANOR HALL: Social researcher Hugh Mackay says the economic downturn, as the economic downturn hits more Australians, it might prompt a change of values in the upper-middle classes. Hugh Mackay says as wealthier Australians suffer financially, they ...

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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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