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Downey Seized, Sold to U.S. Bancorp as Mortgage Fallout Spreads - Bloomberg
Nov. 22 (Bloomberg) -- Seizure and sale of Downey Financial Corp. and two smaller lenders may cost the FDIC more than $2 billion as foreclosures rise and home prices extend declines in the worst housing slump since the Great Depression. U.S. Bancorp ...

Commercial-mortgage losses hurting insurers - Orlando Sentinel
WASHINGTON - A new wave of loan defaults, this time tied to commercial mortgages, is starting to hit insurance companies and may be contributing to the stock market's woes. Industry players say the insurers' predicament is being worsened by a rule ...

Buffett sees 'very painful' five months - Omaha World-Herald
Investor Warren Buffett expects a "very painful" next few months for the economy and believes it will not turn around until after mid-2009. "I'm not worried about five years from now," Buffett said in an interview that aired Friday on Fox Business ...

Commercial loan losses hurting insurers - KIDK
WASHINGTON (AP) - A new wave of loan defaults, this time tied to commercial mortgages, is starting to hit insurance companies and may be contributing to the stock market's woes. Industry players say the insurers' predicament is being worsened by a ...

4 insurers seek to buy thrifts for part of bailout - BusinessWeek
Four insurance companies on Friday asked the government to allow them to buy thrifts so they can qualify to receive federal money under the financial rescue program. Hartford Financial Services Group Inc., Genworth Financial Inc., Lincoln National ...

Commercial loan loses latest blow to markets - Riverside Press Enterprise
WASHINGTON - A new wave of loan defaults, this time tied to commercial mortgages, is starting to hit insurance companies and may be contributing to the stock market's woes. Industry players say the insurers' predicament is being worsened by a rule ...

My Turn: Fund schools to bail out economy - Burlington Free Press
Proposals to halt the slide into recession include: 1) Pumping federal money into failing banks and financial institutions; 2) Getting federal money into the hands of folks who are defaulting on mortgage payments; 3) Funding banks with federal monies ...

BankUnited loses $261M as cash dwindles - South Florida Business Journal
Banks line up for $200 million in fed bailout Ortiz replaces Camner as BankUnited CEO Regulators crack down on Riverside Bank of the Gulf Coast Lincoln National seeks charter change, federal funds TotalBank falls into red in third quarter BankUnited ...

The Transition/Pre-Inaugural Thread - Chud.com
Political Discourse Pretend you don't see the "Uncle Mitch in '06" stickers and discuss the workings of the political machine. Clinton has little incentive to take Secretary of State. Josh Marshall at TPM rightly notes that Hillary pretty much has a ...

Entries for November 2008 - US News and World Report
It looks like New York Federal Reserve Bank President Timothy Geithner is our next Treasury secretary. A few quick thoughts: 1) He has the edge of being from Wall Street and understanding that world without being of Wall Street and having his hands ...

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Today's Mortgage Terms starting with H

  • Home Equity Line of Credit: A type of revolving credit in which your home is used as collateral.
  • Home Equity Loan: A revolving line of credit or loan based on the equity in the mortgagor's property. The property is the collateral for the loan, which is usable for any purpose.
  • Housing and Urban Development (HUD): A U.S. government agency created to introduce federal housing and community development programs; manages the Federal Housing Administration.
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