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Register for FREE - Wall Street JournalPlease register to gain free access to WSJ tools. An account already exists for the email address entered. Barack Obama: Certainly, his victory was historic , but during normal times, the president-elect wouldn’t make the list of the winners or ...
Daniel Howes - Detroit NewsShort of the subprime mortgage racket, perhaps nothing is more toxic right now than the Detroit car business. The begging for taxpayer cash in Washington, led by General Motors Corp., is in overdrive. The equity values of GM and Ford Motor Co. are ...
Daniel Howes: Commentary - Detroit NewsTell me, I asked our local mortgage banker Thursday, what's really going on out there. "We're doing great," replied Bill White, president of Dearborn Federal Savings Bank. "We have the highest capital percentage of any bank in Michigan. We're lending ...
FSA fines two directors from Abbey Mortgages - Banking Business ReviewThe UK's Financial Services Authority has fined William Evans and Gary Howes, two directors from Abbey Mortgages, based in Bexleyheath and Stokesley, GBP30,000 each for shortcomings in their mortgage business which put financially vulnerable ...
Old West event comes to Henderson - Las Vegas SunFor more information on Single Action Mounted Shooting call 994-9714. For more information on the Cowboy Action Shooters call 565-3276. Packing revolvers and outfitted in 19th century-style cowboy and cowgirl garb, Single Action Mounted Shooting ...
Gordon Brown gambles it all on rescue plan - Times OnlineAs Gordon Brown patted himself on the back for saving the British banking system last week, Neil Parkin stood in the chilly wind outside his bungalow near Barnstaple in Devon and wondered who was going to save him. Parkin is the human face of a ...
A Bottom Up Rescue Plan for the Auto, Bank and Mortgage Companies - OpEdNews.comObama keeps talking about bottom-up approaches to the economy. Here's how it could look for the big three auto companies and the banking and housing industries. This morning, on MSNBC's Morning Joe, Mike Todd, NBC's political director asked ...
Local election notebook - HometownAnnapolis.comApart from complaints of long lines at polling stations, Ross Goldstein, the deputy administrator for the Maryland State Board of Elections, said voting ran relatively smoothly, with few reports of problems around the state. He said all the polls ...
Job index falls to five-year low; more losses likely - Rocky Mountain NewsA measure of U.S. job prospects in October dropped to a five-year low, signaling the labor market will keep weakening, a private survey showed. The Conference Board's Employment Trends Index decreased 1.8 percent to 105.3, the lowest level since ...
Bailout Fraud: Does the bailout pass the smell test? - OpEdNews.comThe explanation that has been given for the financial crisis does not match up with the solution that has been devised. Moreover, the windows into the crisis offered by the authorities are opaque rather than transparent. The only clarity we have is ...
Today's Mortgage Terms starting with I
Index: An index is usually a widely published market rate such as LIBOR, T-Bill or 11th District Cost of Funds (COFI). Lenders use these indices to set the interest rates charged on mortgage loans. For ARM, a predetermined margin is added to the index to calculate the interest rate adjustment.
Initial Rate: The rate charged for the first interval of an ARM loan.
Interest: Compensation in the form of money paid for the use of money.
Interest Rate Cap: Caps limit the range that the interest rate on an adjustable rate mortgage can change in an adjustment interval during the term of the loan.
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