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News about Mortgages:
Mortgage Video Gallery - CNBCOne possible silver lining of the housing crisis is a big drop for mortgage rates. Dan Gilbert, chairman of Quicken Loan... UK Banks Feel Repossession ... UK banks are being lenient on mortgage defaults because repossessions cost the banks an ...
Lower US mortgage rates help but jobs, prices key - Guardian UnlimitedNEW YORK, Dec 3 (Reuters) - The lowest mortgage rates in three years are luring first-time buyers and cost-cutting refinancers, but falling home prices and mounting unemployment will keep U.S. housing in its deepest slump since the Great Depression ...
FHA Cash Cushion Has Fallen by 39% - Wall Street JournalThe latest annual audit of the Federal Housing Administration shows a steep drop in the capital cushion the U.S. agency holds against losses from mortgage defaults. As lenders shy away from risk, the number of loans insured by the agency has soared ...
FHA Insurance Fund Has Fallen 39 Percent - Washington PostThe Federal Housing Administration 's fund to cover losses on the mortgages it insures is shrinking, but remains above the point where taxpayers would need to kick in money to cover defaults, according to an independent audit of the agency's ...
WRIT buys 2445 M St. for $181M - Washington Business JournalWashington Real Estate Investment Trust has acquired 2445 M St. NW, a West End office building that was previously financed in part by a Lehman Brothers entity. The Rockville-based company (NYSE:WRE) declined to identify the seller, but the 290,000 ...
Home Value Highwire - WTOP RadioWASHINGTON - If you want to buy in today's housing market, you may not be able to seal the deal or get a loan, unless you have cash and good credit. You need cash to close the deal. The days of zero-down are gone. That's the new reality of the ...
Potomac Confidential - Washington Post• Sports : Thomas Boswell, 3 Fisher was online Thursday, Dec. 4, at Noon ET to look at the District's decision to open bars till 5 a.m. during Inauguration Week, the sad state of car sales in the area and the federal government's green light for ...
Housing Slump Threatens Jobs - US News and World ReportTightening. That process is already underway in other housing-related jobs, such as mortgage lending, title services, and appraisals. With the refinancing boom played out and mortgage applications near a four-year low, lenders like Washington Mutual ...
Lenders push appraisers for fresher comps - San Francisco GateSunday, November 9, 2008 But in soft and declining markets, lenders recently have begun making comps a big deal. Some sellers are being forced to renegotiate lower prices with buyers, even after they've got a signed contract. Rather than accepting ...
Comps playing bigger role for lenders - Miami HeraldHow fresh are your ''comps'' -- the comparable sales of properties used as benchmarks in home real estate appraisals? Buyers and sellers rarely had to be concerned about such a question -- or even understand it -- when values were on the upswing. But ...
Today's Mortgage Terms starting with S
Second Mortgage: An additional mortgage that has rights that are secondary to the first mortgage.
Seller’s Market: Market conditions that are favorable to sellers. There are more buyers than properties available for sale. The buyers may be forced to compete and pay more for the same property.
Settlement Costs: Money paid by the borrowers and sellers to complete the closing of a mortgage.
Settlement Cost (HUD Guide): HUD publishes a booklet that gives an overview of the lending process and is given to consumers after completing their loan application.
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