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News about Mortgages:
Federal grand jury probing Fannie Mae, Freddie Mac - Los Angeles TimesWASHINGTON -- Adding to their woes, mortgage finance giants Fannie Mae and Freddie Mac are facing a federal grand jury investigation into their accounting practices. The mortgage-finance companies said Monday that a federal grand jury in New York was ...
Mortgage meltdown hits the innocent - Miami HeraldR emember our millionaire days? You know: back when my little cottage had been magically transformed into a golden palace encrusted with Tiffany diamonds. The mailman slouched through my neighborhood bent low with solicitations from banks and ...
Insider Trading - Chicago TribuneWASHINGTON (AP) _ Adding to their woes, mortgage finance giants Fannie Mae and Freddie Mac are facing a federal grand jury investigation into their accounting practices. The mortgage finance companies said Monday that a federal grand jury in New York ...
UPDATE 1-US mortgage mortgage applications fell in latest week - ReutersNEW YORK, Sept 24 (Reuters) - Applications for U.S. home mortgages retreated to sluggish levels last week as rising interest rates spoiled a spurt in loan refinancing, according to data published from an industry group on Wednesday. The Mortgage ...
Baby powder - Chicago Sun-TimesWhen it comes to family vacations, it's hard to beat a ski trip. But flying the family out to Vail or Jackson Hole to play in the powder comes with a hefty price tag. So when it was time to introduce my 6-year-old stepson, Ben, to the sport of ...
Pastor, wife arrested in alleged mortgage scam - South Florida Business JournalA Jensen Beach pastor and his mortgage broker wife have been arrested and charged in a real estate investment scheme that allegedly stuck clients with more than $1 million in mortgage debt. Shalonda McGill and her husband Rodney, a pastor and popular ...
Grand vision for 'Aussie Mac' - News.com.auPROPERTY sector funds management and indices business Rismark International has called on the Federal Government to introduce an "Aussie Mac" mortgage financing conduit similar to ailing US giants Fannie Mae and Freddie Mac. But Rismark managing ...
GMAC's mortgage arm cutting jobs - Detroit Free PressThe nation's mortgage and credit problems claimed another big victim Wednesday, as GMAC Financial announced that its home mortgage arm would lay off up to 5,000 workers and close 200 consumer offices nationwide. The majority of the layoffs will take ...
Lenders that Have Closed Shop, - Wall Street JournalMore than 80 mostly subprime mortgage lenders -- those that make home loans to the riskiest borrowers with questionable credit -- have closed shop since the end of last year as clients defaulted on payments and banks cut off the funding required to ...
Markets applaud as financial rescue plan takes shape - USA TodaySTEPS TO RIGHT THE ECONOMY Among the steps being taken or proposed to stabilize the nation's financial system: The Treasury Department is asking Congress for authority to buy up to $700 billion in devalued mortgage-backed securities from fianancial ...

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Today's Mortgage Terms starting with J
Jumbo Loan: A mortgage over the $300,700 limit established by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation. A jumbo mortgage tend to carry a higher interest rate than a conventional mortgage.
Junior Mortgage: A mortgage subordinate to the claim of a prior lien or mortgage. In the case of a foreclosure, a senior mortgage or lien will be paid down first.
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