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Plane facts: GM cutting back fleet - Detroit NewsGeneral Motors Corp. has been thinning its corporate jet fleet. Ford Motor Co. continues to explore ways to curtail travel expenses. And Chrysler LLC doesn't even own planes anymore. The CEOs of Detroit's Big Three didn't mention those facts this ...
Paulson says bailout not for mortgage guarantees - Sioux City JournalWASHINGTON - Treasury Secretary Henry Paulson expressed fresh reservations Tuesday about tapping a $700 billion bailout pool to provide mortgage guarantees to help stem soaring home foreclosures. Paulson and Federal Reserve Chairman Ben Bernanke ...
Economic woes force difficult decisions about day care - Pittsburgh Tribune ReviewWhen Denise Mahone worked as an adjunct art professor at Duquesne University earlier this year, she loved what she did, for the sake of the art, but not the modest salary. So when Mahone gave birth to a second child this fall, she and her husband ...
Postal Service investigates boss' VIP mortgage - WTOP RadioWASHINGTON (AP) - The Postal Service is investigating whether the nation's postmaster general improperly received a sweetheart deal on a mortgage from Countrywide Financial Corp. , the chairman of the service's governing board said. Postmaster ...
Postal Head Investigated For Mortgage Deal - CBS NewsCountrywide, a leading subprime lender, is at the heart of the mortgage crisis. It has been criticized for using initially low teaser rates that later ballooned higher than borrowers could afford. (AP Photo/Damian Dovarganes) (AP) The Postal Service ...
Big Three automakers beg for $25 billion lifeline - Tri-City HeraldTreasury Secretary Henry Paulson says even though he's not continuing the plan to buy up mortgage-backed securities from banks, that doesn't mean it was a bad idea. Treasury Secretary Henry Paulson says even though he's not continuing the plan to buy ...
Postal Service investigates boss’s VIP mortgage - Las Vegas SunThe Postal Service is investigating whether the nation's postmaster general improperly received a sweetheart deal on a mortgage from Countrywide Financial Corp., the chairman of the service's governing board said. Postmaster General John E. Potter is ...
Consumers may get ray of good news: lower prices - Kansas City StarTreasury Secretary Henry Paulson, left, accompanied Federal Reserve Chairman Ben Bernanke, testifies on Capitol Hill in Washington, Tuesday, Nov. 18, 2008, before the House Financial Services Committee. Paulson, Bernanke defend $700 billion bailout ...
Paulson wields unprecedented authority - Nashville TennesseanWASHINGTON — The pressure on Henry Paulson in early September was greater than at any other time during his tenure as treasury secretary. As he pored over the books of mortgage giants Fannie Mae and Freddie Mac, he discovered that they were about ...
Dow slips below 8,000 on growing fear of deflation - Reading EagleWASHINGTON - A growing fear of economic deflation helped take the air out of the stock market Wednesday, and another white-knuckle final hour on Wall Street pushed the Dow Jones industrials under 8,000 to their lowest close since the financial ...
Today's Mortgage Terms starting with L
Lender: The bank, mortgage company or mortgage broker providing the loan.
Loan Application: A statement of personal and financial information needed to apply for a loan.
Loan Application Fee: A fee applied by a lender to cover the initial costs of putting through a loan application. The fee could include the cost of getting a property appraisal, a credit report and a lock-in fee and other closing costs incurred to complete the transaction.
Loan Origination Fee: Fee charged by a lender for the administrative costs of processing a loan.
Loan to Value Ratio (LTV): The balance of the mortgage outstanding as a percentage of the home's price.
Lock or Lock In: A lender's guarantee of an interest rate for a specific period of time. The time period is usually between the loan application approval and loan closing. The borrower wants the lock to stay in effect until closing.
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