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Ex-Clinton aide is top choice for Obama’s attorney general - Buffalo NewsWASHINGTON — Presidentelect Barack Obama’s top choice for attorney general is Eric H. Holder Jr., a former No. 2 Justice Department official in the Clinton administration and Obama campaign aide who would become the first African American to ...
Nash Finch reveling in the calm - Minneapolis Star TribuneThe good news about Nash Finch Co. is that there hasn't been much news lately. That's probably a welcome relief to the Edina-based food distributor and retailer. Over the past few years, Nash Finch has endured management turmoil, slumping sales, a ...
Mills to resign top state education post - Buffalo NewsALBANY — New York State Education Commissioner Richard Mills, who has carried out one of the nation’s most aggressive and expensive education reform efforts during 13 years on the job, said Saturday he will resign by June. Mills, 63, who ...
Seven Bedford Co. Residents Receive ACM Scholarships - Cumberland Times-NewsCUMBERLAND, Md. -- The Allegany College of Maryland Foundation has announced the awarding of scholarships to seven Bedford County residents for study in the 2008-09 academic year. Scott Cessna of Clearville, Pa., was awarded a Robert D. Kirk II ...
Buffalo stock index drops to lowest point since 2003 - Buffalo NewsNEW YORK (Bloomberg) — Buffalo stocks dropped to their lowest level in five years, led by Berkshire Hathaway and M&T Bank Corp. The Bloomberg Buffalo Index fell 15.06, or 9.1 percent, to 149.7, the second straight weekly drop. The index touched its ...
Dissecting the NFL coaching experience - ESPN.comTuesday Morning Quarterback has learned on an exclusive basis that when the producers of the "X-Men" movies were casting Scott Summers, the character with the laser eyes, they considered Mike Singletary for the part. Singletary was rejected as too ...
Bank landscape continues to shift - GazetteThe changes in the Maryland and national banking industry just keep coming, during what one banker calls "today's unprecedented times." On Wednesday, Provident Bankshares Corp., the Baltimore parent company of Provident Bank, agreed to acquire $42 ...
Matter of Record, November 10 - Wichita Falls Times Record NewsBobby Sanders vs. James Prince, 1605 Pearlie Dr., $1,150.00, V3303 P56. SafeMark Systems LP vs. Everest Enterprises Inc./Comfort Inn & Suites Wichita Falls/Travelodge, 1740 Maurine, $17,016.46, V3303 P444. SafeMark Systems LP vs. Everest Enterprises ...
Save the Rust Belt! - Meganmcardle.theatlantic.comA few heartfelt pleas from native Michiganders who don't want to see their state destroyed. Several emails and comments complaining that I'm a heartless, effete New York type who doesn't understand that if the Big Three go down, some darn fine folks ...
Should U.S. bail out the auto industry? - Rocky Mountain News BlogsGM says it's running out of cash and the U.S. auto industry appealed for financial assistance from the government as part of the financial bailout process. GM also said it has suspended talks to acquire Chrysler. While it didn't specifically name the ...
Today's Mortgage Terms starting with M
Margin: The percentage difference between the index for a specific loan and the interest rate charged. This is a number already set by the lender.
Market Value: The price at which a given property or product is transacted between a willing, unhurried buyer and a seller who know all the pertinent facts about the property.
Mortgage Banker: A financial institution who directly funds home loans, sells them to investors, arranges monthly payments and handles escrow. Some mortgage bankers sell their loans on the secondary market.
Mortgage Broker: A broker arranges financing for borrowers with a variety of lenders. A mortgage broker does not make the loan, but receives payments for its services.
Mortgage Insurance: It is insurance to protect the lender in case you default on your loan. With conventional loans, mortgage insurance is generally not required if you make a down payment of at least 20% of the home's appraised value. It is also known as PMI (Private Mortgage Insurance).
Mortgage Loan: A loan for which a specific real estate property serves as collateral to provide for repayment in case of default.
Mortgage Refinance: A refinanced mortgage is one in which a borrower pays down an old loan with a new loan. People who refinance a mortgage tend do so to get a lower interest rate, lowering their payments or to take cash out of their home equity.
Mortgagee: The lender in a mortgage loan relationship. Property is used as collateral to make payment.
Mortgagor: The borrower in a mortgage loan relationship. Property is used as collateral to make payment.
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