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News about Mortgages:
Help! My lender won't pass on the base rate cut - Guardian UnlimitedQ A year ago I took out a discount mortgage with Kent Reliance building society, which was linked to their standard variable rate (SVR). I gambled that interest rates would reduce, but so far, despite this happening, the building society is yet to ...
B&B ex-chairman says board "massively sorry" - International Herald TribuneRod Kent, former chairman of nationalised bank Bradford & Bingley, said the B&B board was "massively sorry" for the bank's collapse in September. "The board accepts it is fully accountable for what happened," Kent told MPs on Tuesday. "We are deeply ...
UPDATE 2-B&B ex-chairman says board 'massively sorry' - ForbesLONDON, Nov 18 (Reuters) - Rod Kent, former chairman of nationalised British bank Bradford & Bingley, said the B&B board was 'massively sorry' for the bank's collapse in September. 'The board accepts it is fully accountable for what happened,' Kent ...
Bradford and Bingley Bosses Quit - AnanovaThe chairman and deputy chairman of nationalised mortgage bank Bradford and Bingley have quit. Chairman Rod Kent, his deputy Nick Cosh and non-executive directors Ian Cheshire and Steve Webster have left the company with immediate effect. Chief ...
Spartanburg-based bank will cut 19 jobs - Spartanburg Herald-JournalFeeling the pressure from a national economic downturn, Spartanburg-based First National Bank of the South announced Friday it plans to cut 19 jobs. About 12 full-time employees and one temporary worker from across the bank's operations will lose ...
No, Minister! - Jersey Evening PostNOW is not the time to change Jersey’s ‘top 500 banks only’ policy, according to senior regulators. Colin Powell, chairman of the Jersey Financial Services Commission and adviser to the Chief Minister on international affairs, said that ...
The rate cut refuseniks - Guardian UnlimitedInterest rates may have been slashed to 3%, but thousands of people with mortgages linked to their lender's standard rate are still paying 7% or more, Guardian Money can reveal. Kent Reliance Building Society tops the standard variable rate "list of ...
N Rock defends repossessions record - Financial TimesNorthern Rock, the wholly state-owned bank, said on Tuesday it expected to account for one-tenth of all the 45,000 repossessions in the UK this year. The Newcastle-based bank, which was giving evidence to the House of Commons Treasury select ...
Geithner could slow bank-stock assault - CNN MoneyNEW YORK (Fortune) -- Betting against bank stocks may soon become much riskier. The stock market enjoyed a massive snapback rally following reports that president-elect Barack Obama will make Timothy Geithner, the president of the Federal Reserve ...
B&B chiefs like 'Financial Michael Fish' - In the NewsToday the heads of nationalised bank Bradford & Bingley (B&B) were accused of acting like a financial Michael Fish and admissions they knew the writing was on the fall when the BBC reported a possible rescue. Richard Pym, chief executive of B&B, and ...
Today's Mortgage Terms starting with S
Second Mortgage: An additional mortgage that has rights that are secondary to the first mortgage.
Seller’s Market: Market conditions that are favorable to sellers. There are more buyers than properties available for sale. The buyers may be forced to compete and pay more for the same property.
Settlement Costs: Money paid by the borrowers and sellers to complete the closing of a mortgage.
Settlement Cost (HUD Guide): HUD publishes a booklet that gives an overview of the lending process and is given to consumers after completing their loan application.
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