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Wall Street opens moderately lower on weak data - WTOP RadioNEW YORK (AP) - Stocks are down moderately in early trading following discouraging sales reports from many of the nation's big retailers, and word of big job cuts at AT&T and DuPont. But while the market is receiving another stream of bad news, the ...
'Fast Money' Recap: A Super Low Mortgage Rate - Street.ComWall Street had another rocky trading session on Wednesday but finished up for the second consecutive day. The markets waded through a mix of bad economic reports, details of the bailout plans of the Big Three automakers and more corporate ...
Countrywide to refund $11.5 M to NC borrowers - Rocky Mount TelegramRALEIGH, N.C. — Two subsidiaries of Countrywide Financial Corp. have agreed to repay more than $11 million to nearly 5,000 North Carolina borrowers who were overcharged on their mortgages, the state banking commissioner said Thursday. Countrywide ...
Mortgage warnings went unheeded - Rocky Mountain NewsDamage from the housing crisis includes this foreclosed house in Denver. By the end of June, a record 9 percent of American homeowners were in foreclosure or behind on their mortgage. The Bush administration backed off proposed crackdowns on no-money ...
GRAUER: Government finances look like one big sub-prime mortgage - Rocky Mountain NewsIf you think the current mortgage-related sub-prime meltdown has been bad, you haven’t seen anything yet. The current state of the federal government’s finances looks suspiciously like the mortgage sub-prime mess. We need to learn from the ...
Moore vs. Cooper? Dispute hints at politics ahead - Rocky Mount TelegramRALEIGH, N.C. — An ongoing quarrel between Attorney General Roy Cooper and State Treasurer Richard Moore may be more than just two agencies vying for power: It could foreshadow a coming Democratic primary to challenge Republican Sen. Richard Burr ...
Property Talk: Is the Dubai market sinking? - AME InfoIn the latest edition of Property Talk, we discuss with Mike Bridge the rocky property market from on board the flotilla seeing in the QE2 to Dubai and whether mortgage lending will start to pick up with the new Real Estate bank
Automakers face skeptical senators on aid plan - Ann Arbor NewsWASHINGTON (AP) — U.S. automakers drew fresh skepticism from lawmakers Thursday in a rocky confrontation over their pleas for an expanded $34 billion rescue package they say they need to survive. Congressional analysts said one bailout plan under ...
Lower Rates Help Sell Homes, But Won't Cure Broader Ills - Wall Street JournalA possible move by the Treasury Department to push down mortgage rates has raised the hopes of home buyers, real-estate agents and economists -- and the share prices of residential builders and related businesses. But the proposal, if implemented as ...
Around the wires: Automakers face skeptical senators; AT&T cuts 12,000 ... - Memphis Commercial AppealWASHINGTON — U.S. automakers drew fresh skepticism from lawmakers Thursday in a rocky confrontation over their pleas for an expanded $34 billion rescue package they say they need to survive. Congressional analysts said one bailout plan under ...
Today's Mortgage Terms starting with C
Cash To Close: Liquid assets that are available on hand for payment of closing costs involved in the processing of a mortgage transaction.
Closing: The completion of a real estate transaction. The closing includes the delivery of a deed, financial adjustments, signing of notes and disbursement of funds required to finalize the sale and loan transaction.
Closing Costs: Fees generally paid by the borrower in relation to the closing of a mortgage loan.
Collateral: Property pledged as security for a debt.
Conforming Loan: Conventional home mortgages eligible for sale and delivery to either the Federal National Mortgage Association (FNMA) or the Federal Home Loan Mortgage Corporation (FHLMC). These agencies generally buys first mortgages up to loan amounts approved by Congressional directive.
Conventional Loan: Loans that are not part of any government housing program, free of any restrictions of government insured housing programs, such as loan size limits.
Conversion Clause: A feature in certain ARMs that gives you the option to convert the variable rate loan to a fixed-rate loan, usually after the first adjustment period. The new fixed rate will be set at current rates and there could be a fee for the conversion feature.
Convertible ARM: A type of ARM loan that can be converted to a fixed-rate loan after a certain time period.
Covenant: A clause in a contract that obligates or restricts the parties and if broken, can result in a legal action.
Credit Bureau: It is a clearinghouse for credit history information.
Credit Report: A report containing a detailed credit history of an individual.
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