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Interest rates slashed in bid to revive ailing UK economy - EDP 24Interest rates were slashed to their lowest level ever yesterday as the Bank of England threw another lifeline to the UK's ailing economy. Borrowing costs fell by 0.5pc to 1.5pc - the lowest since the Bank was founded in 1694 - although some business ...
UNDER PRESSURE - New York PostPressure continues to mount this weekend for Upper East Side investor Erza Merkin to step down as chairman of GMAC, the troubled auto- and mortgage-lender which received a $6 billion government rescue package. The pressure comes as Uncle Sam entrusts ...
Ontario public school elementary teachers threaten strike - Globe and Mailsam zhang from Toronto, Canada writes: I agree that unions should be banned from having any power except to protect people's basic human rights. They should ensure the children's safety and education with minimized impact even they have a good reason ...
December 2008 - Posts - SlateWell, I end the year with a mea culpa : I should have read the New Republic piece about Holocaust survivor Herman Rosenblat before piping up to defend him. But even after doing so, I agree most with this part of what one of the scholars who initially ...
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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