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Credit crunch boss kissed his family goodbye... then threw himself in ... - Daily Mail
A wealthy financier killed himself because he was worried about losing money in the credit crunch, his widow has said. Multi-millionaire Ross Stephenson, 47, set off for work as usual, kissing his wife and young son goodbye – but then drove his ...

Credit crunch stress claimed Kiwi life - Stuff
High-flying New Zealand financier Ross Stephenson took his life because of the global credit crunch, an inquest in Britain has been told. Mr Stephenson, who went by the name Kirk, chief operating officer at private equity firm Olivant, faced ...

Man who killed himself feared the effects of financial crisis - The Independent
A wealthy financier who threw himself in front of a train in Buckinghamshire was wracked with fear about the economic downturn, an inquest heard yesterday. Kirk Stephenson, 47, the chief operating officer at the private equity firm Olivant, faced ...

The Met’s failure of judgment - Evening Standard
As the fallout from the arrest of Tory immigration spokesman Damian Green continues, it is the Metropolitan Police that looks most damaged. Sir Paul Stephenson, who authorised the ill-judged operation, was until now a front-runner to succeed Sir Ian ...

Bernanke wants more action to curb foreclosures - North County Times
This is a Feb. 19, 2008 file photo showing the main entrance to the headquarters of Swiss bank Credit Suisse in Zurich, Switzerland. Credit Suisse Group said Thursday, Dec. 4, 2008 it is cutting 5,300 jobs, about 11 percent of its global work force ...

Register for FREE - Wall Street Journal
Please register to gain free access to WSJ tools. An account already exists for the email address entered. Barclays, which recently acquired most of the North American operations of Lehman Brothers Holdings, today announced the new leaders of its ...

Toys for Tots Drop-off Sites - WBAY Green Bay
Toys for Tots is collecting toys to make sure children in need get a gift during this holiday season. Toys donated in your area stay in your area. Please contact the webmaster to add, remove, or edit a drop-off site. The deadline for dropping off ...

Queen's speech and Michael Martin's statement - live - Guardian Unlimited
• Read the news story on the Speaker's statement here Queen Elizabeth II and Prince Philip enter the royal gallery through the north door. Photograph: Rex Features Photograph: Nils Jorgensen /Rex Features 11:32am: The state opening ceremony is ...

In a Suicide, Crisis and Life Cross - Wall Street Journal
On a mild Thursday morning in late September, Kirk Stephenson, a London investment-fund executive, ate breakfast with his wife and eight-year-old son, then drove to a train station about 30 miles from his Chelsea home. As an express train approached ...

Stocks Skid Back Into Correction Territory - CNBC
We asked Gary Vaynerchuk of Wine Library TV to tell us about his favorite brands of Bourbon, Irish Whiskey and Single Malt. Stocks skidded back into correction territory as investors worried that the tumbling economy may not only cripple mortgage ...

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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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