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News about Mortgages:
Mortgage rates drop - Sun-JournalWASHINGTON (AP) -Rates on 30-year mortgages plunged this week to the lowest level since January after the government launched a sweeping new effort to aid the U.S. housing market. Mortgage finance giant Freddie Mac reported Thursday that average ...
Credit markets' rising rates pose economic threat - Seattle TimesNEW YORK — Rates may be falling for residential mortgages and the securities backed by them, but there hasn't been a similar loosening in other strained areas of the credit markets. Rising rates on corporate bonds and commercial mortgage-backed ...
Caught in the trap - ArabianBusiness.comNegative equity is a very real concern for thousands of homeowners as they watch property prices fall while mortgage rates rise. With repossessions looming large on the horizon, Alex Delmar-Morgan reports on what the banks need to do to arrest the ...
U.S. to Speed Investment From China Banks, State Fund (Update2) - BloombergDec. 5 (Bloomberg) -- The U.S. agreed to speed up approvals for Chinese financial institutions seeking to invest in the country, as Treasury Secretary Henry Paulson tries to find ways to unlock frozen credit markets and stabilize banks. The ...
Morgan Joseph Adds Two New Members to Its Fixed Income Structured ... - PR InsideMorgan Joseph & Co. Inc., a full-service investment bank, has expanded the firm"s analytics and trading group that operate in the secondary market for fixed income structured products with the addition of two new members to the team, it was announced ...
Mortgage Rates Fall as U.S. Expands Rescue - Wall Street JournalU.S. officials pledged to pump another $800 billion into ailing credit markets, much of it directly from the Federal Reserve -- a move that makes the nation's central bank a lender to almost every corner of American life. The Fed, whose traditional ...
Pros Say: Job Losses of 425,000; S&P to Fall to 700 - CNBCThe U.S. economy is forecast to have lost 340,000 jobs in November, which would be the nastiest monthly job loss since 1982, according to economists polled by Reuters. But analysts tell CNBC it could be far worse than that figure. 425,000 Job Losses ...
How To Cope With The Flood Of Foreclosures? - ForbesDespite soaring foreclosure rates, President Bush and other Republicans have not made this a top priority, and Treasury Secretary Henry Paulson has refused to draw on the $700 billion rescue fund to help homeowners, saying that saving financial ...
JPMorgan cutting 9,200 jobs at Washington Mutual - International Herald TribuneNEW YORK : JPMorgan Chase & Co. said Monday it will cut a total of 9,200 jobs at Washington Mutual, which it acquired Sept. 25 after Washington Mutual became the largest U.S. bank to fail amid the ongoing credit crisis. Of the 9,200 jobs being ...
JPMorgan to Cut 9,200 WaMu Jobs - Street.ComNEW YORK -- JPMorgan Chase ( JPM Quote - Cramer on JPM - Stock Picks ) said Monday it will cut a total of 9,200 jobs at Washington Mutual, which it acquired Sept. 25 after Washington Mutual became the nation's largest bank to fail amid the ongoing ...
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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