Reliance Mortgage Rates and Information Online from competing Lenders

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UPDATE 3-BoE cuts rates to 2 pct, says more action needed - Forbes
LONDON, Dec 4 (Reuters) - The Bank of England slashed interest rates to their lowest level since 1951 on Thursday but indicated more needed to be done to prevent a credit squeeze tipping Britain's economy into a prolonged recession. The one ...

SEC Tightens Rules for Ratings Firms - Wall Street Journal
The Securities and Exchange Commission took steps to curb potential conflicts of interests at bond-rating firms and stepped up disclosure requirements around the ratings process. The agency put off more controversial changes that would designate ...

UPDATE 1-CDOs a thing of the past; MBS market needs fix-Fed - Forbes
WASHINGTON, Dec 4 (Reuters) - The market for mortgage securities will return to health only once the contracts and disclosure of those investments are standardized, a senior Federal Reserve Board official said on Thursday. 'I believe that markets for ...

Give thanks for self-reliance - Spectrum
In the year of bottomless bailouts, I am most grateful this Thanksgiving season for Americans who refuse to abandon thrift, personal responsibility and self-reliance. When the moochers and entitlement mongers drive you mad, remember that our nation ...

Great Wolf Resorts, Inc. Announces 30-Day Extension of Maturity Date ... - Marketwatch
North America's leading family of indoor waterpark resorts, today announced that it has negotiated a 30-day extension of the November 30, 2008 maturity date on the company's $76.8 million non-recourse mortgage loan on its Mason, Ohio resort ...

Capital One to buy Chevy Chase Bank for $520 mln - Guardian Unlimited
NEW YORK, Dec 4 (Reuters) - Capital One Financial Corp, a credit card issuer and bank, agreed to buy Chevy Chase Bank for $520 million, expanding its retail deposit base, the companies said on Thursday. The cash and stock deal will allow Capital One ...

Bank Of Ireland Passes On Full 75BPs ECB Cut To Customers - FXStreet.com
DUBLIN -(Dow Jones)- Bank of Ireland PLC (IRE) said Thursday it will pass on the European Central Bank's 75-basis-point rate cut to variable-rate mortgage customers, following similar announcements Thursday by HBOS PLC (HBOS) unit Bank of Scotland ...

Buckle Inc.: Surprising Performance From a Small Cap - Seekingalpha.com
It comes as no surprise that the consumer discretionary sector has been one of the hardest hit sectors, given its heavy reliance on consumer spending, which has declined for 3 straight months- a very rare event in market history. Only the largest cap ...

Mortgage growth hits 22-year low - Irish Examiner
GROWTH in the pace of mortgage lending hit a 22-year low in October, reflecting the continuing decline in the property market and the economic downturn. Overall, private sector lending also continued to weaken, falling to a 14-year low. It fell to an ...

Private Equity's Year from Hell - BusinessWeek
The financial crisis has damaged investors great and small, and private equity funds are no exception. These funds, and the investors who plunked down millions to back their deals, appear to be facing big losses as more of the companies that they ...

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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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