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News about Mortgages:
CITY OF LOCKPORT: Mortgage company fined over housing violations - Lockport Union-SunA mortgage company that disposed of a dilapidated Harvey Avenue house will pay a fine to satisfy charges it neglected the house while it still held the title. American General Home Equity Inc., 5875 S. Transit Road, agreed last month to plead guilty ...
Toys for Tots Drop-off Sites - WBAY Green BayToys for Tots is collecting toys to make sure children in need get a gift during this holiday season. Toys donated in your area stay in your area. Please contact the webmaster to add, remove, or edit a drop-off site. The deadline for dropping off ...
Congress tackles Wall Street reform - CNN MoneyNEW YORK (CNNMoney.com) -- Members of Congress, fiscal experts and Wall Street lobbyists gathered Tuesday to discuss ways to change regulation of the finance industry to shore up its foundations and prevent future crises. "We must recognize that ...
Banking execs ask for more regulation - Atlanta Journal ConstitutionWashington — Setting the stage for a dramatic swing toward more regulation, the House Financial Services committee Tuesday heard pleas from bankers and economists for more government oversight of credit and financial markets. U.S. Rep. Tom Price of ...
Rescue Plan Chafes Small Banks - Wall Street JournalWASHINGTON -- The Treasury's bailout plan is fueling a long-simmering war between financial institutions, prompting fears among small banks that big banks getting rescue money will be encouraged to buy smaller rivals. Big banks say the purchase of ...
Heritage Christian plans expansion - Topeka Capitol-JournalAn intercom system, an industrial arts shop, a home gymnasium, a full-sized soccer field and room to grow. These are just a few things Aletha Rogers sees in Heritage Christian School's future now that the private school has acquired the East ...
NAREE Names Best Real Estate Books of the Year in the Prestigious ... - HuntingtonNews.NetThe National Association of Real Estate Editors (NAREE) has named the 2008 winners of the Robert Bruss Real Estate Book Awards, recognizing excellence in recently published works. Winning the first place Gold Award in the competition is ...
Register for FREE - Wall Street JournalThe email address you have entered is already in use. Please re-enter the email address. Genworth Financial shares shed as much as 50% Tuesday following a credit rating cut from Moody’s Investor Service on Monday that made the company ineligible to ...
America's future? Socialist nation? - Florida Times-Union"Any of the various theories or systems of the ownership and operation of the means of production and distribution by society or the community rather than by private individuals, with all members of society or the community sharing in the work and ...
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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