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News about Mortgages:
Countrywide to refund $11.5M to NC borrowers - BusinessWeekTwo 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 Home Loans and ...
We are stuck on a 9.7% mortgage rate - This is MoneyNot long ago banks offered reasonably priced mortgages to almost everyone, even those borrowers whose credit records were imperfect. Not any more. The stubborn refusal of lenders to turn on the mortgage tap means hundreds of thousands of borrowers ...
Stocks: Your New Favorite Investment? - US News and World ReportAnother interesting point made today by Goldman’s Abby Joseph Cohen (see previous post ): Public equity markets may be returning to favor among investors who got burned badly in riskier corners of the market. The thinking goes that one of the ...
Morgan Joseph Adds Two New Members to Its Fixed Income Structured ... - PR InsideMorgan Joseph & Co. Inc., a full-service investment bank, has expanded the firm"s analytics and trading group that operate in the secondary market for fixed income structured products with the addition of two new members to the team, it was announced ...
Major European Interest Rate Cuts Fail to Rally World Markets - Digital ChosunilboA broker is seen under the curve of the German stock index DAX at the stock market in Frankfurt, central Germany, Dec. 4, 2008. Continued economic weakness has led to another round of interest rate cuts in Europe, while the number of Americans ...
People in Business - Jackson Clarion-LedgerKim Pittman has been promoted to assistant vice president. She has eight years of experience in banking and has been with the company more than two years. Pittman is a graduate of Brookhaven Christian Academy. Paula Spurgeon has been promoted to vice ...
New U.S. relief plan may take time - International Herald TribuneFor U.S. consumers buying homes, refinancing mortgages or seeking auto or student loans, the new government plans to make borrowing cheaper and easier sound like a gift. One problem, however, is that whole categories of people may be ineligible ...
Religion Calendar - Nashville TennesseanDEC. 5 Awakening the Season, a benefit concert for Youth Encouragement Services Christmas Store, Harpeth Hills Church of Christ, 1949 Old Hickory Blvd. New Hope M.B. Church, 1303 Hawkins St., Nashville, will hold a financial planning and debt-free ...
Government warned of mortgage meltdown - CNN MoneyWASHINGTON (AP) -- The Bush administration backed off proposed crackdowns on no-money-down, interest-only mortgages years before the economy collapsed, buckling to pressure from some of the same banks that have now failed. It ignored remarkably ...
U.S. Consumer Loan Aid Will Only Trickle So Far - Free Internet PressIf you’re buying a home, refinancing a mortgage or seeking an auto or student loan, the new government plans to make borrowing cheaper and easier sound like a gift. One problem, however, is that whole categories of people may be ineligible. If you ...
Today's Mortgage Terms starting with F
Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac): A semi government agency that acquires conventional loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
Federal Housing Administration (FHA): A federal agency within the Department of Housing and Urban Development (HUD), which insures residential mortgage loans made by private lenders and sets standards for underwriting mortgage loans.
Federal National Mortgage Association (FNMA or Fannie Mae): This agency purchases loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
FHA Loans: Fixed or adjustable-rate loans that are insured by the U.S. Department of Housing and Urban Development. The purpose of FHA loans is to make housing more affordable, especially for first-time homebuyers.
First Mortgage: A mortgage which is in first lien, taking priority over all other liens. In case of a foreclosure, the first mortgage will be repaid before any other mortgages.
Fixed Rate Loan: Fixed-rate loans have interest rates and payments that are fixed through out the term of the loan.
Foreclosure: A legal process in which a mortgaged property may be liquidated to pay off a mortgage loan that is in default.
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