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Watching Washington Come into Focus - Middle East TimesTEAMING UP -- President-elect Barack Obama (L) and Secretary of State designee Sen. Hillary Clinton during a news conference announcing Obama's national security team on December 1 in Chicago. (UPI) BEIRUT -- The appointment of Hillary Clinton as the ...
Mortgage fraud incidents up 45% - CNN MoneyMIAMI (AP) -- Reported incidents of mortgage fraud grew by 45% in the second quarter compared to the year-ago period, as borrowers misstated their financial information to maneuver around tighter lending standards, industry data released Tuesday ...
Mortgage-fraud sleuths - Frederick News-PostPrince George's County has the state's highest percentage of homes in foreclosure. It also has a big problem with mortgage fraud. In September P.G. County received a $162,200 grant from the state to set up within its State's Attorney's Office a ...
Analysis: Avoiding blame in auto industry crisis - Huffingtonpost.comWASHINGTON — Not surprisingly, neither the outgoing Bush administration, President-elect Barack Obama nor the Democratic leaders of Congress wants to be blamed for the loss of a once-proud domestic auto industry and the disappearance of hundreds of ...
Capital One to Acquire Chevy Chase Bank - Washington PostCapital One , a leading credit card company, plans to announce today that it will buy Chevy Chase Bank , a landmark Washington financial firm with branches throughout the region, according to sources familiar with the matter. The deal would be ...
Without Lam, U.S. Attorney's Office Takes Different Tack - Voiceof San DiegoTuesday, Dec. 2, 2008 | There were executives at Alvarado Hospital and Peregrine Systems. San Diego city councilmen and pension officials. And the most remarkable of them all -- the most corrupt congressman ever caught, Randy "Duke" Cunningham. All ...
Turn deaf ear to the ranting of Republicans - Post-TribuneIt doesn't appear that the current administration is putting its efforts into helping members of the struggling working class with either their homes or their jobs, or both. Things look good if you're a banker or a Wall Street tycoon. But if you're ...
Mortgage fraud incidents up 45 pct in 2Q - Miami HeraldMIAMI -- Reported incidents of mortgage fraud grew by 45 percent in the second quarter compared to the year-ago period, as borrowers misstated their financial information to maneuver around tighter lending standards, industry data released Tuesday ...
Scenarios: Major Issues Facing U.S. Attorney General - Post ChroniclePresident-elect Barack Obama on Monday named former deputy attorney general Eric Holder as his choice to be Attorney General, the top U.S. law enforcement official. Here are some of the main challenges Holder, who served in the administration of ...
President, First Lady Moving to Dallas - AOLWhile the White House has declined to disclose the address, local property records indicate that Robert McCleskey, a Bush family friend from Midland who has done accounting work for the family, recently bought an 8,500-square-foot house with a market ...
Today's Mortgage Terms starting with C
Cash To Close: Liquid assets that are available on hand for payment of closing costs involved in the processing of a mortgage transaction.
Closing: The completion of a real estate transaction. The closing includes the delivery of a deed, financial adjustments, signing of notes and disbursement of funds required to finalize the sale and loan transaction.
Closing Costs: Fees generally paid by the borrower in relation to the closing of a mortgage loan.
Collateral: Property pledged as security for a debt.
Conforming Loan: Conventional home mortgages eligible for sale and delivery to either the Federal National Mortgage Association (FNMA) or the Federal Home Loan Mortgage Corporation (FHLMC). These agencies generally buys first mortgages up to loan amounts approved by Congressional directive.
Conventional Loan: Loans that are not part of any government housing program, free of any restrictions of government insured housing programs, such as loan size limits.
Conversion Clause: A feature in certain ARMs that gives you the option to convert the variable rate loan to a fixed-rate loan, usually after the first adjustment period. The new fixed rate will be set at current rates and there could be a fee for the conversion feature.
Convertible ARM: A type of ARM loan that can be converted to a fixed-rate loan after a certain time period.
Covenant: A clause in a contract that obligates or restricts the parties and if broken, can result in a legal action.
Credit Bureau: It is a clearinghouse for credit history information.
Credit Report: A report containing a detailed credit history of an individual.
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