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3 Indicted in Mortgage Fraud Scheme - Tyler Morning Telegraph
Three Henderson County people have been indicted for operating a mortgage scheme through their real estate businesses that defrauded the government and cost taxpayers millions of dollars. Kandace Marriott, 52, and Darrell Lynn Marriott, 55, both of ...

Marriotts indicted again - Corsicana Daily Sun
KAUFMAN – In a second round of indictments issued since August, a Kaufman County grand jury Friday charged four suspects with operating a criminal mortgage racket designed to defraud the government. Kandace Marriott, 52, and Darrell Lynn Marriott ...

Sports world could use more people with Hayes' integrity - FOXSports.com
We interrupt the concerns about cheating, corner-cutting and rule-skirting to bring a nomination to the floor. J.P. Hayes, for sportsman of the year. The newest candidate for most honest athlete in America is a 43-year-old Golf er who hasn't won a ...

Hayes' honesty in turning himself in is worth applauding - USA Today
We interrupt the concerns about cheating, corner-cutting and rule-skirting, to bring a nomination to the floor. J.P. Hayes, for sportsman of the year. The newest candidate for most honest athlete in America is a 43-year-old golfer who hasn't won a ...

Most subprime lenders weren't subject to federal lending law - Orange County Register
A lot of opinion leaders think so. From the editorial pages of The Wall Street Journal to talk shows to the op-ed page of The Register, people are charging that the Community Reinvestment Act of 1977 forced banks to make bad loans, leading to ...

The Mortgage And The Murder - CBS News
If you have any information on the Ohlemacher murders or the 9mm Ruger handgun and shell casings, please contact the Albuquerque Police Department . (CBS) In August 2005, Renee Ohlemacher says she awoke to the screams of her mother. Both her parents ...

Checksmart CEO: Election hurt company - Newark Advocate
NEWARK -- One payday lender said current Ohio law, upheld by voters in the Nov. 4 general election, will not allow the loan stores to remain in business. Ted Saunders, chief executive officer of Checksmart, said the company will pursue other options ...

Five plays give Bucks 5th straight over Michigan - Buffalo News
It took five big plays to give Ohio State an unprecedented fifth straight win over rival Michigan. Noted Wolverines nemesis Chris "Beanie" Wells had two of those, including a 59-yard touchdown run and 134 yards rushing to help the 10th-ranked ...

U.K. Economy Will Contract Most Since 1980 Next Year, CBI Says - Bloomberg
Nov. 17 (Bloomberg) -- The U.K. economy will contract the most in almost three decades next year and house prices are now falling at the fastest pace since at least 2002, two industry reports showed. Gross domestic product will drop 1.7 percent in ...

LeBron James scores 31 in showcase win over Nets - Buffalo News
LeBron James scored 31 points in showing the New York metropolitan area what might be on the free agency market in 2010 and the Cleveland Cavaliers rolled to their eighth straight win with a 106-82 decision over the New Jersey Nets on Tuesday night ...

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Today's Mortgage Terms starting with P

  • Payment Cap: A limit on the size of the monthly payment of an adjustable-rate mortgage or other variable rate loan.
  • Point: A point is equivalent to 1 percent of a mortgage loan. Lenders might charge "origination points" to cover expenses of processing a loan. Some borrowers might pay "discount points" to reduce the loan's interest rate.
  • Pre-Approval: The process of calculating how much money a potential homebuyer could borrow.
  • Prepayment Penalty: A lender's charge to the borrower for paying down the loan before the end of its term.
  • Pre-Qualification: A non-binding process of calculating how much money a potential homebuyer can borrow before applying for a loan. Information submitted during pre-qualification is subject to verification at application.
  • Principal: It is the amount of money borrowed or owed, excluding interest.
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