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Vertex Builds on its Success with Appointment of New Managing Director ... - WebitPRVERTEX has appointed Mark Charlesworth as Managing Director for its Mortgage Division. He will become a member of the Vertex Senior Management team reporting directly to Vertex’s Chief Operating Officer Jeff Chittenden. Mark has over 20 years ...
Moody's cuts Sovereign ratings due to charges - Boston GlobeNEW YORK— Moody's Investors Service has lowered the investment-grade debt and deposit ratings of Sovereign Bancorp and its subsidiaries, and placed all ratings on review for possible further downgrade. Late Tuesday, Moody's cut the senior debt ...
Financial crisis missing local towns, schools - Burlington Free PressChittenden County towns, cities and schools have avoided consequences from the national financial meltdown, but some local money managers fear effects in the next year from jittery bankers and cash-starved property taxpayers. Municipal money managers ...
Sovereign replaces CEO; stock price rebounds - Boston GlobeNEW YORK - Sovereign Bancorp Inc., the second-largest US savings and loan, rose the most in 22 years in New York trading yesterday as the bank said its chief executive will be replaced and analysts raised their stock recommendations. Sovereign, based ...
Sovereign, National City Lead Recovery in Regional Bank Stocks - BloombergSept. 30 (Bloomberg) -- Sovereign Bancorp Inc. and National City Corp. led gains among U.S. regional banks after U.S. lawmakers said they intend to salvage a $700 billion bank-rescue package. Sovereign , the second-largest U.S. savings and loan ...
Lender bailout adds stability, Realtors say - Burlington Free PressRealtors and bankers throughout the region applauded the federal government’s decision to seize Fannie Mae and Freddie Mac, saying the intervention provides necessary stability to the nation’s wobbly housing market. Although Vermont’s real ...
Financial chaos does not rule out economic recovery - Times OnlineLast Monday I wrote on this page that the US Government's rescue of Fannie Mae and Freddie Mac probably marked the low-point of the global credit crisis and was “unqualified good news for the US economy”. Four days later, I wrote that this very ...
Niagara County Real Estate Transactions - Buffalo News• Lockport-Junction Road, Marjorie S. Nelson to County of Niagara, $180,000. • Thrall Road, Marilyn Rockwood; Robert E. Rockwood to Joseph Critelli, $45,000. • East Ave. & Howard, Jimmy Chebat; Amy Chebat to Robert A. Pauly; Dylan A. Pauly ...
Erie County Real Estate Transactions - Buffalo News• 12845 Broadway, Prameela Rebala to Saibabaram Llc, $445,000. • 11143 Westwood Road, Mary J. Saxer; Gerald L. Saxer to Kevin R. Barczykowski; Jennifer L. Barczykowski, $170,800. • 1250 East Laray Drive, Betty Jane Kile; David R. Kile to Mary J ...
Vt. banks reportedly 'in good shape' - Rutland HeraldThe state-chartered banks and credit unions in Vermont are on sound financial ground because they were never drawn into the subprime mortgage market that is at the root of the current financial crisis, according to the state Department of Banking ...

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Today's Mortgage Terms starting with F
Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac): A semi government agency that acquires conventional loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
Federal Housing Administration (FHA): A federal agency within the Department of Housing and Urban Development (HUD), which insures residential mortgage loans made by private lenders and sets standards for underwriting mortgage loans.
Federal National Mortgage Association (FNMA or Fannie Mae): This agency purchases loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
FHA Loans: Fixed or adjustable-rate loans that are insured by the U.S. Department of Housing and Urban Development. The purpose of FHA loans is to make housing more affordable, especially for first-time homebuyers.
First Mortgage: A mortgage which is in first lien, taking priority over all other liens. In case of a foreclosure, the first mortgage will be repaid before any other mortgages.
Fixed Rate Loan: Fixed-rate loans have interest rates and payments that are fixed through out the term of the loan.
Foreclosure: A legal process in which a mortgaged property may be liquidated to pay off a mortgage loan that is in default.
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