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News about Mortgages:
Oil tumbles below $50 as recession called - MSN MoneyCentralCOLUMBUS, Ohio (AP) - Oil prices tumbled below $50 a barrel Monday as National Bureau of Economic Research reported that the U.S. economy has been in a recession since December 2007. Crude had already fallen 8 percent on reports showing that ...
Ohio wins court settlement against mortgage lender - Zanesville Times RecorderCOLUMBUS (AP) - A bankrupt subprime lender accused of shoddy practices has been barred from accepting mortgage applications in Ohio, state Attorney General Nancy Rogers announced Wednesday. The agreement with New Century Financial Corp. of Irvine ...
Subprime lender barred from taking mortgage applications in Ohio - Canton RepositoryCOLUMBUS A bankrupt subprime lender has been barred from accepting mortgage applications in Ohio. Ohio Attorney General Nancy Rogers announced the agreement Wednesday with New Century Financial Corporation of Irvine, Calif. The state had sued the ...
Mortgage officer guilty of fraud - The Columbus DispatchA loan officer was convicted yesterday for his role in a scheme that defrauded more than 200 people and 20 banks, but an appraiser who worked with him was acquitted of all charges in the case. After about eight hours of deliberations, a federal jury ...
Shopping malls, hotels near mortgage default; more looming - The Columbus DispatchWASHINGTON -- Black Friday's retail shoppers hunting for holiday bargains won't be enough to stave off what's likely to become the next economic crisis. Malls from Michigan to Georgia are entering foreclosure, commercial victims of the same events ...
Mortgage company begins foreclosure process on Guerra’s home - Brownsville HeraldRAYMONDVILLE - A mortgage company is foreclosing on District Attorney Juan Angel Guerra's house, according to notice posted at the Willacy County courthouse. Chase Home Finance of Columbus, Ohio, has begun the foreclosure process on the house that ...
Bankrupt subprime lender can't do new business in Ohio - Columbus DispatchCOLUMBUS -- A bankrupt subprime lender has been barred from accepting mortgage applications in Ohio. Ohio Attorney General Nancy Rogers announced the agreement today with New Century Financial Corporation of Irvine, Calif. The state had sued the ...
The Blogosphere Comes Of Age ... - Andrewsullivan.theatlantic.comThe blogger Tanta, an influential voice on the mortgage collapse, died Sunday morning in Columbus, Ohio. Ms Dungey, RIP, had the right tude: Tanta liked to chew on the follies of regulators, the idiocies of lenders and — a particular favorite ...
Lender barred from applications - Canton RepositoryCOLUMBUS, Ohio A bankrupt subprime lender has been barred from accepting mortgage applications in Ohio. Ohio Attorney General Nancy Rogers announced the agreement Wednesday with New Century Financial Corporation of Irvine, Calif. The state had sued ...
Beazer Homes loss balloons as sales plunge in Columbus, other markets - Fox 19A struggling homebuilder that's pulling out of Columbus reports that losses in its latest quarter more than tripled from a year ago. Beazer Homes USA also says its home closings in the July through September quarter were down 38% compared to last ...
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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