Whitestone Mortgage Rates and Information Online from competing Lenders

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Lehman racing to find buyer for beleaguered firm - Houston Chronicle
NEW YORK — With Lehman Brothers' shares signaling another steep drop on Friday, top executives are racing to put a sale of the beleaguered investment bank in place before it loses further market value and confidence. Confidence has waned that ...

Lehman Brothers seeks buyers as shares signal steep drop, confidence ... - Minneapolis Star Tribune
To say the government is somehow responsible for private investments is a bit ridiculous. These high paid CEO's and their subordinates knew … read more what they were doing. They got caught with their pants down on a bad bet. The only thing the ...

Bankers Say Lehman Approaching Rivals For Lifeline - WCPO
NEW YORK (AP) -- Its future in jeopardy and options dwindling, Lehman Brothers scoured Wall Street Thursday for a financial lifeline. Top executives contacted banks and rival investment houses about a possible deal to buy the company, bankers and ...

Where's our rebate? Families counting on check to make ends meet fume - New York Daily News
Brooklyn homeowner Jade Munday - with kids Isabella (l.), 3, and Jessica, 6 - feels pinch without rebate. Sisters Rosalyn Lipsky and Mildred Corwin planned to paint the hallways in their two-family house in Mill Basin , Brooklyn . That's been ...

Lehman may need a miracle to survive - Buffalo News
NEW YORK — The Wall Street firm that started the U. S. cotton trade before the Civil War and financed the railroads that built a nation might soon fade into history. Just days after Lehman Brothers Chief Executive Richard S. Fuld tried to pitch ...

Bankers say Lehman Brothers approaching rivals for lifeline - News1130.com
NEW YORK - Its future in jeopardy and options dwindling, Lehman Brothers scoured Wall Street Thursday for a financial lifeline. Top executives contacted banks and rival investment houses about a possible deal to buy the company, bankers and industry ...

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Today's Mortgage Terms starting with C

  • Cash To Close: Liquid assets that are available on hand for payment of closing costs involved in the processing of a mortgage transaction.
  • Closing: The completion of a real estate transaction. The closing includes the delivery of a deed, financial adjustments, signing of notes and disbursement of funds required to finalize the sale and loan transaction.
  • Closing Costs: Fees generally paid by the borrower in relation to the closing of a mortgage loan.
  • Collateral: Property pledged as security for a debt.
  • Conforming Loan: Conventional home mortgages eligible for sale and delivery to either the Federal National Mortgage Association (FNMA) or the Federal Home Loan Mortgage Corporation (FHLMC). These agencies generally buys first mortgages up to loan amounts approved by Congressional directive.
  • Conventional Loan: Loans that are not part of any government housing program, free of any restrictions of government insured housing programs, such as loan size limits.
  • Conversion Clause: A feature in certain ARMs that gives you the option to convert the variable rate loan to a fixed-rate loan, usually after the first adjustment period. The new fixed rate will be set at current rates and there could be a fee for the conversion feature.
  • Convertible ARM: A type of ARM loan that can be converted to a fixed-rate loan after a certain time period.
  • Covenant: A clause in a contract that obligates or restricts the parties and if broken, can result in a legal action.
  • Credit Bureau: It is a clearinghouse for credit history information.
  • Credit Report: A report containing a detailed credit history of an individual.
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