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Lehman Toxic Debt Advice Led Leipzig Bank to Ruin Via Dublin - BloombergOct. 28 (Bloomberg) -- Teachers at the Clara Zetkin Middle School in Freiberg, Germany, were counting on a budget surplus to ease staff shortages across the state of Saxony. Those hopes have faded as a result of bets made by state- owned Landesbank ...
Germany's `Boring' Banks Woo Savers Seeking Shelter (Update1) - BloombergOct. 20 (Bloomberg) -- In Dusseldorf, a city-owned bank one-fiftieth the size of Deutsche Bank AG is taking on Germany's largest lenders in a bid to entice savers spooked by the collapse of financial companies across Europe. ``Has your bank gone ...
Zapping the Volt - NationIt's hard to imagine that at a time when an unprecedented amount of wealth is held by the top 1% of the US population -- 24% in as of 2006 , a level not seen since just before the depression -- that a lot of cuff-snapping over-educated David Brooks ...
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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