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News about Mortgages:
REFILE-Thornburg Mortgage bailout still up in the air - ReutersNEW YORK, Sept 23 (Reuters) - Thornburg Mortgage Inc (TMA.N: Quote , Profile , Research , Stock Buzz ) said on Tuesday the fate of its rescue package remains uncertain because the specialist in jumbo home loans has failed to resolve a dispute with ...
AIG to focus on property, casualty insurance - Guardian UnlimitedNEW YORK, Oct 3 (Reuters) - American International Group Inc , the insurer crippled by losses on bad mortgage bets, said on Friday it will focus on its property, casualty and foreign general insurance businesses. The company, whose shares rose 12 ...
Fannie Mae's chief business officer to leave - Guardian UnlimitedNEW YORK, Sept 19 (Reuters) - Less than two weeks after the U.S. government bailout of Fannie Mae, several leaders are leaving the company, including Peter Niculescu, promoted less than a month ago to become the mortgage giant's chief business ...
Other events tonight - News-StarULM hosts its annual Envision gathering at 6 p.m. at the Monroe Civic Center. Call 342-5440. The Ouachita River Art Guild Gala is from 5 to 8 p.m. today at Banker’s Mortgage Center, Suite 101 in the OIB Plaza. Paintings, pottery and jewelry by ...
PLAN YOUR NIGHT: Dublin singer makes a stop at Enoch's - News-StarOn the heels of the Northeast Louisiana Celtic Festival, another taste of Ireland arrives in Monroe tonight. Brendan Nolan, born and reared just north of Dublin, will take the stage at Enoch's Irish Pub and Cafe at 8 p.m. Nolan has released six solo ...
Today's Mortgage Terms starting with I
Index: An index is usually a widely published market rate such as LIBOR, T-Bill or 11th District Cost of Funds (COFI). Lenders use these indices to set the interest rates charged on mortgage loans. For ARM, a predetermined margin is added to the index to calculate the interest rate adjustment.
Initial Rate: The rate charged for the first interval of an ARM loan.
Interest: Compensation in the form of money paid for the use of money.
Interest Rate Cap: Caps limit the range that the interest rate on an adjustable rate mortgage can change in an adjustment interval during the term of the loan.
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