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Financial News
Time 's Carney falsely suggested Clinton "pin[ned] the blame for the ... - Media Matters
Summary: In a blog post, Jay Carney claimed that Sen. John McCain's "campaign has released a 60-second ad that uses Bill Clinton's words to pin the blame for the mortgage crisis on Democrats" without noting that in the interview clipped in the ad ...

Stumbling economy becomes focus of presidential election - Kansas City Star
Once again, it’s the economy. The war? Abortion? Gun rights? Immigration? National security? The environment? Sure, those issues count for many voters, but this year’s presidential election now is focused — notably akin to the 1992 Bush vs ...

What caused economic crisis? No one thing - St. Petersburg Times
In this complex financial crisis, the presidential candidates have the biggest megaphone of all to help us understand the mess we're in. But relying on them for an unvarnished view is like asking competing trial attorneys to provide the "facts" of a ...

Data prove untrue charges that push for affordable housing caused ... - Miami Herald
WASHINGTON -- As the economy worsens and Election Day approaches, a conservative campaign that blames the global financial crisis on a government push to make housing more affordable to lower-class Americans has taken off on talk radio and e-mail ...

EDITORIAL: The mortgage scandal roots - The Washington Times
Pedestrians walk past Lehman Brothers headquarters Wednesday in New York. The nation's fourth-largest investment bank, led by Chairman and Chief Executive Officer Richard Fuld Jr., is looking for a potential buyer amid Wall Street reports that the ...

Community Reinvestment Act had nothing to do with subprime crisis - BusinessWeek
Fresh off the false and politicized attack on Fannie Mae and Freddie Mac, today we’re hearing the know-nothings blame the subprime crisis on the Community Reinvestment Act — a 30-year-old law that was actually weakened by the Bush administration ...

Ad accurate, but it exaggerates - News-Leader.com
Washington -- In a television ad airing the week Congress was considering a $700 billion bailout of the financial industry, Republican John McCain uses an old clip from President Clinton to blame Democrat Barack Obama for the Fannie Mae and Freddie ...

In D.C., few evade blame for financial crisis - Los Angeles Times
WASHINGTON -- When Congress voted last week to bail out Wall Street banks and investment houses, members were also indirectly voting to repair damage lawmakers themselves had caused during a decades-long era of deregulation. As the blame game moves ...

Many pieces go flying from mortgage implosion - Dallas Morning News
WASHINGTON – Your taxpayer credit card is on the counter, all set to get the economy moving again. Caveat emptor – let the buyer beware. The value of the mortgage-backed securities the federal government is set to buy is hard to decipher when the ...

Where can we lay the blame? - Philadelphia Daily News
As U.S. taxpayers hurtle toward paying $700 billion to bail out the nation's credit markets and avoid a job-destroying recession, the inevitable game of who's to blame begins in earnest in the nation's capital, on Wall Street, and on Main Street. Is ...

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Today's Mortgage Terms starting with S

  • Second Mortgage: An additional mortgage that has rights that are secondary to the first mortgage.
  • Seller’s Market: Market conditions that are favorable to sellers. There are more buyers than properties available for sale. The buyers may be forced to compete and pay more for the same property.
  • Settlement Costs: Money paid by the borrowers and sellers to complete the closing of a mortgage.
  • Settlement Cost (HUD Guide): HUD publishes a booklet that gives an overview of the lending process and is given to consumers after completing their loan application.
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