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News about Mortgages:
AT&T to cut 12,000 jobs, 4 percent of staff - AOLNEW YORK -Pressured by the economic turmoil and the mounting loss of traditional phone customers, AT&T Inc. is cutting 12,000 jobs, about 4 percent of its work force. The Dallas-based telecommunications company, the nation's largest, said the job ...
Public Capital - Austin American-StatesmanThe Public Capital blog keeps watch over the state's pension and investment funds, their strategies, and the people who are affected by those decisions. The job of the chief operating officer at the Teachers Retirement System of Texas has gone away ...
Text message scandal: Beatty takes plea deal - Detroit NewsText message scandal: Beatty takes plea deal Tom Greenwood, Doug Guthrie and David Josar / The Detroit News DETROIT -- Wiping tears from her eyes, former Detroit mayor chief of staff Christine Beatty agreed in court this morning to a plea bargain ...
Text message scandal: Beatty to take plea bargain - Detroit NewsText message scandal: Beatty to take plea bargain Tom Greenwood, Doug Guthrie and David Josar / The Detroit News DETROIT -- Christine Beatty has agreed to a plea bargain that is similar to former Detroit Mayor Kwame Kilpatrick, she acknowledged at a ...
New crisis in commercial real estate looms - MSNBCNov. 26: President-elect Barack Obama announced a new Economic Recovery Advisory Board to be headed by former Fed Chairman Paul Volcker. NBC's Savannah Guthrie reports. WASHINGTON - The full scope of the housing meltdown isn’t clear and already ...
Auditors: Not enough oversight for bailout - MSNBCDec. 2: The nation's governors pressed President-elect Obama for their own bailouts Tuesday as state budgets across the country have hit a wall. NBC's Savannah Guthrie reports. WASHINGTON - The government must toughen its monitoring of the $700 ...
The upside of the economic downturn - Toronto Star"It is as though a farmer, having tapped his barometer after breakfast, could decide to move his capital from the farming business ... and reconsider whether he should return to it later in the week." John Maynard Keynes on the stock market, 1936 The ...
American Muslims Mourn Mumbai Violence - NationThere will be many expressions of appropriate mourning and condolence when the final toll is determined from the terrorist attacks on Mumbai. The terrorists who struck the Indian city killed mostly locals in a brutal multi-day killing spree that left ...
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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