Burnham Mortgage Rates and Information Online from competing Lenders

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On Native Ground - American Reporter
DUMMERSTON, Vt. -- Those who thought that last week's government bailout of Fannie Mae and Freddie Mac would stabilize the financial markets got a wakeup call this week. Lehman Brothers, the fourth-largest U.S. investment bank, succumbed to the ...

2008's financial mess rooted in housing slump - Everett Herald
NEW YORK -- From the near collapse of Bear Stearns in March to the bankruptcy of Lehman Brothers in September, the past year saw the unthinkable take place in the financial services industry. The entire landscape for financial services was altered ...

Financial firms beaten down in 2008 - Asbury Park Press
NEW YORK — From the near collapse of Bear Stearns in March to the bankruptcy of Lehman Bros. in September, the past year saw the unthinkable take place in the financial services industry. The entire landscape for financial services was altered, as ...

PM hails UK tourism opportunities - BBC News
Prime Minister Gordon Brown has said Britain must be a leader in the "new type of world economy", as his cabinet held a meeting in Liverpool. They are expected to discuss the Bank of England's decision to cut interest rates to an all time low of 1.5 ...

Everything You Wanted to Know about Credit Default Swaps--but Were ... - American Enterprise Institute
Credit default swaps (CDSs) have been identified in media accounts and by various commentators as sources of risk for the institutions that use them, as potential contributors to systemic risk, and as the underlying reason for the bailouts of Bear ...

AIG's new swaps expanded Wall St. risk - Nashville Tennessean
For months, several executives at AIG Financial Products had pulled apart the data, looking for flaws in the logic. In phone calls and e-mails, at meetings and on their trading floor, they kept asking themselves in early 1998: Could this be right ...

December 2008 - Weblogs.sun-sentinel.com
Locals eager to join in Obama inauguration partying, without enduring D.C. crowds and weather, can head to the Crowne Plaza Hotel in West Palm Beach for dinner, drinks and dancing on Jan. 20. The Democratic Executive Committee of Palm Beach County is ...

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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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