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News about Mortgages:
White House Ignored Warnings, Eased Loan Rules - New London DayWashington - 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 prescient ...
Children’s savings accounts stay over 7pc - Daily TelegraphHowever, there is the occasional silver lining to be found. This week, for example, The Nottingham introduced the latest issue of its children’s regular savings account paying an impressive 7.5pc gross interest, fixed for a year. Issue seven on the ...
HSBC raises mortgage rate most in 10 years - South China Morning PostHSBC (SEHK: 0005 , announcements , news ) , the largest mortgage lender in Hong Kong, yesterday raised its mortgage rate by up to 75 basis points - the biggest increase in 10 years - on lingering concerns about the higher risk of lending amid the ...
AP IMPACT: US diluted loan rules before crash - San Francisco Examiner3 hrs ago: AP IMPACT: Under pressure, US eased lending rules In this Sept. 26, 2008 file photo, a woman passes a branch entrance near the headquarters of Washington Mutual Inc., in downtown Seattle. WaMu, one of the nation's largest banks, was seized ...
Mortgage rate drop spurs rush to lenders for refinancing - Detroit Free PressA sharp plunge in U.S. mortgage rates prompted a rush to refinance, resulting in record-setting business Tuesday at Livonia-based Quicken Loans and big days for other lenders. Following government efforts to unfreeze consumer credit, U.S. mortgage ...
A look at economic developments around the world - International Herald TribuneA look at economic developments and stock-market activity around the world Monday: LONDON — Royal Bank of Scotland Group PLC said it would give homeowners who miss mortgage payments at least six months before starting repossession action — double ...
AP IMPACT: They warned us, but US eased loan rules - Lexington Herald-LeaderWASHINGTON -- 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 prescient ...
Abraham promises to be in lineup at San Diego - FOX NewsFLOWERY BRANCH, Ga. — John Abraham promises he will play Sunday at San Diego. The Falcons' three-time Pro Bowl defensive end didn't return after sustaining a mild concussion in last week's win over Carolina. Tied for third in the NFL with 12 sacks ...
WaMu losing 9,200 jobs - San Antonio Express NewsSEATTLE — JPMorgan Chase & Co. is eliminating the jobs of 3,400 Washington Mutual employees in the Seattle area, part of 9,200 job reductions nationwide, a spokesman said Monday. Outside of Seattle, where WaMu is based, the biggest number of job ...
When the real-estate market is down, the rental market picks up - Asbury Park PressMay Abdelkader and a friend looked at several apartments before they chose to sign a lease at Pier Village, the apartment and retail complex along the ocean in Long Branch. "We looked at smaller apartments. We looked at cheaper apartments," said ...
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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